Morrison jobs at risk after introduction of new technology

Hundreds of jobs are said to be at risk at supermarket giant Morrison after it brought in new cash-handling technology at its stores.

Hundreds of jobs are said to be at risk at supermarket giant Morrison after it brought in new cash-handling technology at its stores.

The new initiative, which has been introduced to improve its competitiveness, has put almost 700 positions in jeapordy.

According to reports, the company has begun a consultation with its 689 cash office managers and supervisors to scrap these roles, with some staff expected to be offered alternative positions.

The chain was quoted as saying: "The introduction of new technology is an ongoing programme to ensure that Morrison continues to improve its competitiveness."

Back in March the group reported its first annual profit decline in six years.

In an effort to turn things around, it is currently in talks with Ocado Group to launch a online food store in 2014 and is also working to open more convenience stores.

Recent data from Kantar Worldpanel revealed that the group's share of the grocery market dropped to 11.7% in March, having been 12.3% a year earlier. None of the other "Big Four" saw a decline.

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

How the stamp duty holiday is pushing up house prices
Stamp duty

How the stamp duty holiday is pushing up house prices

Stamp duty is an awful tax and should be replaced by something better. But its temporary removal is driving up house prices, says Merryn Somerset Webb…
25 Sep 2020
The electric-car bubble could get an awful lot bigger from here
Renewables

The electric-car bubble could get an awful lot bigger from here

The switch to electric cars is driving a huge investment bubble. But that’s not necessarily a bad thing, says John Stepek. Fortunes will be made and l…
24 Sep 2020
Can Rishi Sunak’s winter plan save the UK economy?
UK Economy

Can Rishi Sunak’s winter plan save the UK economy?

With his Winter Economic Plan, chancellor Rishi Sunak is hoping to support the economy through the dark months ahead as restrictions tighten again. Jo…
25 Sep 2020