FRANCE: Carrefour silent on job cut reports
Carrefour is reportedly looking to cut 500 to 600 jobs in France
French retail giant Carrefour has declined to comment on reports it is looking to cut 500 to 600 jobs in France.
According to French publication Le Figaro, Carrefour is expected to this week announce the removal of more than 500 jobs at its headquarters in France. The figure represents around 3% of the group's workforce, a union representative told the publication.
The retail giant has had a tumultuous 18 months, which has included a series of profit warnings and shareholder dissent over its strategy after a plunge in its share price.
Profits and sales fell in 2011 and in April, the group booked a drop in sales for the first quarter of 2012, hit by weakness in its French hypermarkets and a "difficult" trading environment in Europe.
CEO Georges Plassatt has said it will take around three years to turn the company around as it looks to focus on reducing debt and overhead costs as well as exiting non-core markets. Further details on the plans are expected to be revealed on Thursday when the group publishes its first-half results.
This is a detailed report covering Carrefour’s store formats, private labels, history, key employees, and key financial and operational metrics in Belgium....
This is a detailed report covering Carrefour’s store formats, private labels, history, key employees, and key financial and operational metrics in Turkey....
Brazilian tycoon Abilio Diniz, the chairman of the CBD, the country's largest retailer, has been lined up for a seat on the board of local food group Brasil Foods....
Two Dutch supermarket chains have become the latest European retailers to pull frozen lasagnes from shelves amid concerns the lines could contain horse meat....
- Infographic: Snapshot of Japan's food sector
- On the money: Solid Lindt outpaces chocolate peers
- On the money: Hain expects continued organic gains
- Spotlight: What could be impact of Russia's ban?
- Analysis: Market bets on higher Chiquita offer
- Russian government eases ban on food imports
- Kerry cools claim spreads move could hit jobs
- Pork Farms buys Kerry Group's pastry plants
- Dr Oetker to buy McCain North America pizza arm
- Nestle makes "major pledge" on animal welfare