Morrisons to axe 700 jobs

SUPERMARKET chain Morrisons is to cut almost 700 jobs as it plans to introduce a new cash-handling system in its 490 stores.

Morrisons said the new cash-counting system will mean that 689 cash office managers and supervisors would no longer be needed.

“The introduction of new technology is an ongoing programme to ensure that Morrisons continues to improve its competitiveness,” it said.

A four-week consultation has started with staff.

The news comes six months after 165 jobs were scrapped at the company’s Bradford headquarters when its financial transaction processing service was outsourced to an Indian firm.

Morrisons posted a 2.1% drop in like-for-like sales in its latest results. Revenue rose by 3% to £18.1bn, while pre-tax profit fell to £879m from £947m in 2012.