Delhaize (DEG) plans to cut 5K jobs and close more stores in the U.S. and Europe in moves that...

|By:, SA News Editor

Delhaize (DEG) plans to cut 5K jobs and close more stores in the U.S. and Europe in moves that it says will shave 2.4% off of revenue this year. The grocery store operator expects to take a €120M ($152M) charge in Q4 related to the store closing on the U.S. side of the pond. Shares off 7.4% in Brussels trading, down 8.6% premarket in U.S.