Morrisons to axe 900 jobs
Morrisons announced that they're going to sell off all the M Local shops in a bid to concentrate on their proper supermarkets. And the first thing they did was close 11 supermarkets, which means the loss of around 900 jobs.
The retailer also reported a 47% drop in half yearly profits before tax of £126m, and like-for-like sales for the period up to August dropped 2.7% in comparison to the same time last year.
It really feels like someone needs to introduce Morrisons arse to their elbow.
In a statement, Morrisons said: "Customers and colleagues are beginning to notice improvements, but the turnaround will take time."
The new chief executive, David Potts, isn't happy about these closures (the staff who are losing their jobs will be even more unhappy, obviously) and said: "This is a difficult decision but one which we cannot see any way through to make those stores viable."
The stores that are being shut-down haven't been named, but the closures will be smaller sized supermarkets, and follow the closing of 10 supermarkets earlier this year.
Things haven't been the same since Morrisons stopped doing their stadium rock vegetable stands...