PARIS, Jan. 23 (Xinhua) -- Carrefour, Europe's leading retailer, said Tuesday it planned to cut thousands of jobs in France to trim cost and invest more in the promising online market.
As part of its revamp project "Carrefour 2022", the French group said it "needs to regain headroom to improve its efficiency and competitiveness at the service of its customers".
"This implies a significant reduction in its cost base and a more effective investment policy focused on its growth drivers," it added.
With the aim, the French retailer pledged to save 2 billion euros (2.45 billion U.S. dollars) by 2020, including a voluntary redundancy plan for 2,400 employees at head office in France, where it employs a total of 10,500 workers.
Instead, the firm plans to invest 2.8 billion euros in the online market, or six times more than current investments, as it targets to generate 5 billion euros in sales in food e-commerce and to have 20 percent market share in online food by 2022.
The group is also aiming to open at least 2,000 new neighborhood outlets in France in the coming years.
"We must revamp our model by simplifying our organization, opening ourselves up to partnerships, improving our operational efficiency," said Alexandre Bompard, Carrefour's chief executive.
