France's Casino will cut between 1,300 and 3,200 jobs post-takeover to enhance financial stability and focus on convenience stores. The company lost â¬5.7 billion in 2023 but plans a â¬1.2 billion investment for store modernization by 2028.
To reduce debt, Casino sold off larger stores to competitors but will keep operating Monoprix and Franprix. The company reported negative sales but decreased net debt from â¬6.2 billion to â¬1.6 billion by March 2024.
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