Casino: several thousand layoffs ahead

(CercleFinance.com) - Casino announced on Wednesday that it had launched a transformation project for what it calls the "New Casino", a plan that should result in between 1,293 and 3,267 job cuts.


The retailer explains that its program aims to adapt its organisation to the group's new scope, which is now refocused on local networks.

It also states that it intends to set up a system designed to share know-how between banners and improve efficiency.

Although the Saint Etienne head office will retain 1,010 of the 1,564 existing positions, the reorganization plan calls for a total of 1,293 net management job cuts.

The plan also calls for the closure of hypermarkets, supermarkets and certain logistics platforms, if no buyers can be found, resulting in the loss of a further 1,974 positions.

Casino states that the plan is designed to ensure the group's long-term viability and a gradual return to growth, with the stated aim of becoming France's leading convenience retailer.

By strengthening its purchasing partnerships with Intermarché and Auchan, Casino explains that it will now be part of a "powerful" alliance, with a market share of almost 30% and covering a broad spectrum of major suppliers (food and non-food), for a period of ten years.

Philippe Palazzi, the new CEO, says that this refocusing on convenience brands should enable the company to embark on a new development trajectory.

We are going to invest significantly in our points of sale between now and 2028, in order to modernize and rehumanize them, he adds.


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