Financial markets around the world have been rattled by the coronavirus outbreak, with its centre in Wuhan, a city known as the Chicago of China for its central location and booming car manufacturing industry. Amid growing concern over the spread of the virus, China has put Wuhan and four other cities with a combined population of more than 20 million on lockdown. It has banned travel during the biggest mass annual human migration on the planet for the lunar new year this weekend, when up to 400 million Chinese are expected to travel across the country to celebrate with friends and family. With outbound trains, buses and flights halted, fears are rising that the virus could also dent growth in the world’s second largest economy, in a rerun of the Sars outbreak of 2003. The first major deadly infectious disease of the 21st century infected up to 8,098 people worldwide and killed 774, spreading fear of fatal disease around the world and dragging down Chinese growth.
Morrison (Wm) Supermarkets (MRW) is axing 3,000 middle managers as part of an overhaul of its store operations that also involves the recruitment of thousands of shop-floor staff. In the wake of a disappointing Christmas, the Bradford-based supermarket is eliminating higher-paid managerial roles across its near-500 store chain. At the same time, it is creating 7,000 new hourly-paid roles in an effort to improve customer service and reduce the gaps on its shelves. The changes will result in a net increase of 4,000 jobs, with many of the new positions on its Market Street deli counters. David Lepley, Morrisons group retail director, said: “This proposal means more frontline colleagues improving product availability and helping customers.”
