GE to Cut 6,500 Europe Jobs at Former Alstom Businesses
January 13 2016 - 7:20AM
Dow Jones News
PARIS—General Electric Co. said Wednesday it plans to cut 6,500
jobs in Europe at the businesses the U.S. conglomerate bought from
Alstom last year.
A total of 765 jobs will be cut in France, with the majority of
those made at Alstom's headquarters in the Paris suburb of
Levallois and at the electric grid unit, a spokesman for GE said
Wednesday.
GE has begun talks with unions in France, he said, adding the
company maintains its commitment to add 1,000 net jobs to its total
head count in the country over the first three years following the
acquisition.
GE bought Alstom's power equipment making unit for a price of
€12.4 billion, though Alstom maintained minority stakes in several
businesses. With the acquisition, General Electric stepped up its
plan to focus back on industrial activities, while Alstom planned
to boost its train manufacturing business.
(END) Dow Jones Newswires
January 13, 2016 07:05 ET (12:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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