Carrefour cuts costs while focusing on e-commerce

Carrefour has announced investments of €2.8 billion over a period of five years aimed at boosting its online food sales.

The operation, carried out in partnership with the Chinese giant Tencent, is expected to generate €5 billion by 2022 along with a further €5 billion from its expanded organic food lines.

The plan also involves opening at least 2,000 convenience stores. In parallel with its investment decisions, Carrefour has also implemented a drastic restructuring plan aimed at cutting costs by €2 billion by 2020

 To achieve this, the French group is preparing to axe 2,400 jobs (out of a total workforce of 10,500) through voluntary redundancies and the closure of 273 DIA discount stores if it fails to find a buyer.