Carrefour plans to close 21 stores in Belgium and cut 1,672 jobs in the country.
14 of its 56 Belgian hypermarkets and seven of its 378 Belgian supermarkets will close by June 30. An additional 30 stores will be sold. In total, nearly a third of the hypermarkets and nearly half of the supermarkets will be closed, franchised or sold.
Carrefour also plans to freeze wages, to increase the number of its franchises in the country and invest €300m (£272.1m) over three years to refurbish its remaining Belgian stores.