A first suspense has ended for the employees of the Casino group. Without information for several weeks on the extent of the restructuring, following the sale of all of its supermarkets and hypermarkets, and its change of ownership, the news broke on Wednesday April 24 in the morning.
The implementation of a “a large transformation plan that has become essential to ensure the sustainability of the group and turn it around (…) would involve the net elimination of a maximum of 1,293 to 3,267 positions”Casino said in a press release. “It is vital for the group to adapt the size of its support functions in its various headquarters as well as its logistics network”taking into account “its financial situation and its refocusing on local stores”specified the new management, and its general director, Philippe Palazzi.
Since March 27, Czech businessman Daniel Kretinsky, associated with Marc Ladreit de Lacharrière, the founder of the Fimalac holding company, and the British debt fund Attestor, has taken control of the more than century-old group, at the end of a massive restructuring of its debt which put an end to the reign of Jean-Charles Naouri.
“Sharing cross-functional support functions”
In detail, 1,293 positions would be eliminated in the group’s various headquarters, including 554 in Saint-Etienne, which currently employs 1,564 people. The buyers were committed to preserving as many jobs as possible at the distributor’s historic headquarters. They plan to implement “a more integrated organization thanks to the pooling of cross-functional support functions” in a way to “pool a certain number of functions which are not in direct contact with customers in stores”without giving details.
But this figure could rise. Particularly if Casino cannot find a buyer for the supermarkets and hypermarkets which have not yet been sold. At the end of February, 26 points of sale had not yet decided on their fate. “Failing to find buyers”Casino plans “the closure of hypermarkets and supermarkets and certain logistics platforms, i.e. the elimination of a maximum of 1,974 positions”, explained management. The approximately 300 hypermarkets and supermarkets which were sold at the end of January mainly to Intermarché and Auchan, but also to Carrefour, will be gradually transferred in the coming weeks. Some will change brands from 1er may.
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