Morrisons profits but pressure on jobs

Bradford MP Imran Hussain calls for job protection as Morrisons reports a return to profit.

MP urges Morrisons to protect jobs after profit return

Morrisons posted a pre-tax profit of £2.1 billion for the year ending October 27, 2024, reversing a loss in the prior year. A sale of its petrol forecourts to Motor Fuel Group helped the result. In continuing operations, the pre-tax loss narrowed and headcount fell as staff moved with the forecourt sale and as some manufacturing facilities were closed, while in-store productivity improvements were largely achieved by natural wastage.

Imran Hussain, the MP for Bradford East, welcomed the return to profit but urged Morrisons to protect jobs and consult with unions. The company did not comment on the political call. A Morrisons spokesperson said the results reflect the sale of the petrol forecourts and that the year saw reduced headcount due to the sale, factory closures and productivity gains achieved through natural wastage.

Profit, losses, and assets tell different stories. The one-off gain from selling forecourts clouds the underlying pressure in the business. For a community that relies on Morrisons for steady employment, profit alone does not guarantee stable jobs or fair pay.

Public pressure adds a political layer to what is essentially a corporate budgeting decision. The MP's request to protect jobs could shape how Morrisons negotiates with unions and plans future restructuring, with consequences for investors and customers alike.

Highlights

The coming months will show whether profits translate into lasting job security for workers