Leroy Merlin halves Board and starts a vast redundancy plan

Leroy Merlin (GMV 2023 of €9.93 billion in France up by 1.3% year-on-year) announced the loss of about 500 jobs in France, representing around 1.8% of the group’s workforce. The timing of the staff layoff (to be carried out via a collective breakdown procedure) is not confirmed yet. The group, which already reduced the Board from 9 to 4 members in April, will cut jobs of 300 managers at head office and 188 in-store accountant roles. This plan follows an internal memo of September 7, 2023, less