French retail group Carrefour plans to eliminate close to 1,000 positions in its French headquarters, according to a source familiar with the matter cited by Agefi-Dow Jones agency.

The source further clarified that the job cuts will be carried out through “non-forced departures” and will initiate negotiations with employee representatives in the coming days.

A Carrefour spokesperson, contacted by Agefi-Dow Jones, stated that the company aims to prioritise “social dialogue.”

Strategic plan “Carrefour 2026” and cost reduction measures

In November of last year, during the unveiling of its strategic plan “Carrefour 2026,” the retailer expressed its intention to achieve €4bn ($4.4bn) in savings between 2022 and 2026.

The savings would be evenly divided between “administrative and general expenses” and “costs of goods sold.” The group emphasised that this objective would be accomplished by transforming “all operational processes through digitalisation and reorganised structures.”

Consulting support and current workforce

The source added that Carrefour has sought the assistance of consulting firm McKinsey to restructure its French headquarters while social strategies specialist Alixio is supporting the company in reducing its workforce.

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By GlobalData

Carrefour currently employs approximately 8,000 individuals in its French headquarters.

Stock Performance

On Tuesday morning, Carrefour’s shares on the Paris Stock Exchange experienced a decline of 0.3%, reaching €17.70 ($19.4).