Supermarket giant Casino has announced plans to cut thousands of jobs as part of a major restructuring effort aimed at streamlining operations and reducing costs.
The French retailer, which operates stores under various brand names including Casino, Monoprix, and Franprix, said it plans to eliminate around 1,500 positions in its corporate and support functions by the end of next year. In addition, the company will slash another 2,100 jobs through the closure of 43 underperforming stores and the outsourcing of certain services.
The move comes as Casino struggles to compete with online retailers like Amazon and traditional rivals such as Carrefour and Leclerc. The company has been grappling with declining sales and mounting debt, which has forced it to take drastic measures to turn around its fortunes.
In a statement, Casino CEO Jean-Charles Naouri said the job cuts were necessary to make the company more agile and efficient in a rapidly changing retail landscape. “We must adapt to the new economic and competitive environment in order to remain competitive and ensure the sustainability of our business,” he said.
The announcement has sparked outrage among employees and unions, who have vowed to fight the cuts. The French Confederation of Trade Unions (CFDT) said it was “shocked” by the news and called on Casino to reconsider its decision.
“We cannot accept that thousands of jobs are sacrificed for the sake of short-term financial gain,” CFDT spokesperson Catherine Pierson said.
Casino, which employs around 220,000 people worldwide, said it would offer affected employees support in finding new positions within the company or elsewhere. The retailer also said it would work with unions to minimize the impact of the job cuts on workers.
Despite the layoffs, Casino remains optimistic about its future prospects. The company recently reported a 7.4% increase in sales for the first half of the year, driven by strong performance in its online and convenience store divisions.
“We are confident that our strategic plan will enable us to weather the storm and emerge stronger than ever,” Naouri said. “We remain committed to serving our customers and providing them with the best shopping experience possible.”
