AFP to cut 95 jobs, CEO says, scaling back initial 125 target

Agence France-Presse will cut 95 jobs over the next five years, 30 fewer than announced in October, without affecting targeted savings, CEO Fabrice Fries said Monday. Presenting a revised version of his "transformation plan" to employee representatives, Fries said the company would still save 14 million euros ($15.9 million) on wage costs and five million euros on other expenses by 2023. To achieve this, management will convert 15 of the current 175 expatriate postings into local jobs and realise savings through replacing senior employees with younger ones.
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