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Delhaize to cut up to 2,500 jobs in Belgium to tackle falling profits
June 11, 2014 / 6:46 AM / in 3 years

Delhaize to cut up to 2,500 jobs in Belgium to tackle falling profits

BRUSSELS, June 11 (Reuters) - Belgian supermarket chain Delhaize said on Wednesday it could cut up to 2,500 jobs at its Belgian operations over the next three years and invest 450 million euros ($612.68 million) in its stores to bring them back to profitability.

Delhaize, which competes with Carrefour, Colruyt and German discounters Aldi and Lidl, said the measures were necessary as it faced tough competition and a lacklustre economy.

The group said it was at a disadvantage versus competitors over salary costs and market share and profits had been falling in the country over the past years. ($1 = 0.7345 Euros) (Reporting by Robert-Jan Bartunek; editing by Adrian Croft)

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