GE to Cut 6,500 Jobs in Europe at Former Alstom Businesses
January 13 2016 - 7:00AM
Dow Jones News
By Blandine Henault
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
EUR12.4 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 06:45 ET (11:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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