date:Jun 18, 2014
Morrisons, Britain's No. 4 grocer, has proposed changes to its store management structure that will involve around 2,600 redundancies, it said on Tuesday.
The firm, which trails market leader Tesco, Wal-Mart's Asda and Sainsbury's, issued a profit warning in March and set out a plan to combat a loss of trade to discounters as well as a weak overall food market.
That plan called for investing 1 billion pounds ($1.7 billion) in price cuts over the next three years, financed by cost savings of th