France: Carrefour to cut jobs
Carrefour plans to meet with the group's works councils on Wednesday to discuss the retailer's prospects, the newspaper reported, a day before new Chief Executive Georges Plassat is due to present its financial results for the first half.
Plassat took over in May with a brief to reverse years of underperformance in Carrefour's European markets and he is also expected to detail his recovery plan on Thursday.
The retail veteran has said he needs three years to turn around Carrefour, whose challenges include halting a fall in market share in France, where it makes 43 percent of sales and cutting debt and weathering a difficult economic climate in Italy and Spain, where it makes just under 20 percent.
Source: in.reuters.com
