To invest 1.2 bln eur in store modernization by 2028 (Il Sole 24 Ore Radiocor) - Paris, 24 Apr - Troubled French retailer Casino said it could cut up to 3,267 jobs as it embarks on a transformation plant to align the group to its new scope, more refocused on convenience stores.

Casino said the final count of job losses will depend on its ability to find buyers for the hypermarkets, supermarkets, and logistics platforms for total or partial closure.

Casino said it wants to pool a number of functions where staff are not in direct contact with in-store customers, while strengthening the identity of each of its brands.

!The new organization plan for head office activities has been designed to ensure a balance among the group's various sites and banners, guided by the principle of preserving as many jobs as possible at Saint-E'tienne, to which Casino Group's new management is strongly committed," the company said.

The reorganisation plan provides for 1,293 net job losses within the group's head office functions, of which 554 at Saint-Etienne, including the creation or pooling of more than 200 positions at Saint-E'tienne, some of which is linked to the re-internalization of certain activities.

If no buyers can be found, the plan also provides for the closure of hypermarkets, supermarkets and certain logistics platforms, translating into a maximum of 1,974 jobs losses.

The New Casino stores, now refocused on convenience, and the Cdiscount teams will not be affected by the transformation project, nor will work-study students or trainees.

Casino said it also plans to invest 1.2 billion euros to modernize stores by 2028.

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(RADIOCOR) 24-04-24 09:46:08 (0235) 5 NNNN