Groupe Casino

The New Casino embarks on its transformation plan

Paris, 24 April 2024

The New Casino embarks on its transformation plan

• An organisation aligned with Casino Group’s new scope¹
  • Pooling of support services between brands
  • Re-internalisation of skills
  • Plan to strengthen purchasing partnerships with Intermarché and extend such partnerships to Auchan

• An employment protection plan that is balanced among the various sites
  • More than 1,000 jobs retained at the Saint-Étienne head office
  • Between 1,293 and 3,267 job losses expected
  • A proposed system for comprehensive, responsible and personalised employee support
  • A €1.2 billion investment project to modernize stores by 2028
    
    

Following the publication of full-year results marked by a particularly high net loss and, in a difficult market environment, Casino Guichard-Perrachon (“Casino”) is today embarking on a transformation plan aimed at aligning its organisation with the Group's new scope, now refocused on convenience store networks, and implementing a system for sharing know-how between banners and improving overall efficiency. This plan will secure the Group's long-term future and make it gradually more agile so that it can ultimately return to growth and become France's leading convenience store retailer.
        
The works councils of the relevant Group companies were convened on 24 April to attend a meeting scheduled for 6 May 2024, during which this transformation plan will be presented to them, and an information and consultation procedure initiated prior to the implementation of an employment protection plan. At the same time, negotiations on the content of the employment protection plan will begin with the representative trade unions of these companies.

The employment protection plan is part of a wider transformation plan that has become essential to securing the Group's long-term future and its recovery.

Its implementation would entail a maximum of between 1,293 and 3,267 job losses.

The final impact in terms of job losses will depend on the Group's ability to find buyers for the hypermarkets, supermarkets and logistics platforms that are scheduled for total or partial closure.

A two-pronged transformation plan 

Given its financial situation and the refocusing of its strategy on convenience stores, it is imperative that the Group adjust the size of its support service functions at its various head offices, as well as within its logistics network.