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PARIS (Reuters) – Carrefour plans to cut 1,229 jobs as it downsizes its large hypermarket stores in France under a plan to boost sales and profits at Europe’s largest retailer, the Force Ouvriere union told Reuters. The plan, which is being discussed with the FO, CFDT and CFE-CGC unions, entails departures via a conventional collective bargaining agreement, said FO union representative Michel Enguelz. Carrefour had earlier confirmed to Reuters that it was in talks over a conventional collective bargaining agreement, but the company did not specify any figures over possible job losses cufflink shirt singapore.

The likely cuts and downsizing will result from the removal of jewelry corners in hypermarkets, cuts among managers and automation of petrol stations. Last month Carrefour, which has made reviving sales at its French hypermarket stores where it employs 60,000 people a priority, raised its savings goal to 2.8 billion euros ($3.2 billion) by 2020 from 2 billion previously cufflink shirt singapore. In January 2018, Carrefour launched a five-year plan a year ago to cut costs, boost E-commerce investment and seek a partnership in China with tech giant Tencent..

FRANKFURT/BEIJING (Reuters) – Daimler will build its next generation of Smart electric cars in China through a joint venture with Geely, as a way to increase economies of scale in a market segment that is struggling to turn a profit. China’s Geely built a stake of almost 10 percent in Daimler last year, saying it wanted to forge an alliance to develop electric and self-driving cars to better compete against new competitors such as Uber and Google cufflink shirt singapore. Daimler said on Thursday it would build the next generation of Smart-branded city cars at a purpose-built factory in China, and planned to share its expertise in manufacturing, engineering and design with Geely..

The high cost of electric car batteries has made it hard for automakers to build affordable zero-emissions vehicles, leading several of them to strike alliances with Chinese partners. Daimler’s German rival BMW recently unveiled plans to build electric Minis in China, where production costs are low and demand for small electric cars is rising cufflink shirt singapore. Daimler and Geely did not disclose financial terms of their deal. The details of the joint venture will be finalised by the end of 2019, they said in a joint press release..

Daimler currently develops and builds Smart cars with Renault, and constructs the small vehicles at factories in France and Slovenia cufflink shirt singapore. The Daimler factory in Hambach, France, will be retooled to build Mercedes-Benz cars, it said. Geely has been expanding rapidly through mergers and acquisitions since 2010, when it acquired Swedish carmaker Volvo from Ford Motor Co. Last year, Daimler and Geely set up a ride-hailing joint venture in China. Daimler’s Chief Executive Dieter Zetsche said last month the German carmaker was in talks to deepen its alliance with Geely after the Chinese’s group’s chairman Li Shufu bought a 9.69 percent stake in Daimler in 2018..