By  on January 13, 2012

PARIS — French books and electronics retailer Fnac said Friday it would cut 500 jobs and drastically reduce spending as part of a plan to generate savings of 80 million euros, or $102 million at current exchange, this year to counteract weakening sales.

The measures come on the heels of the retailer’s “Fnac 2015” strategic turnaround plan, unveiled by chief executive officer Alexandre Bompard in July in response to tough conditions in its principal markets.

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