French authorities will fine General Electric for creating a small number of new jobs, contrary to promises. As part of the deal with Alstom, GE was supposed to create a thousand new jobs in three years, but opened only 25, according to French Finance Minister, Bruno Le Maire. The company bought Alstom's energy business for $17 billion in 2016. Now, 16 thousand people work in the French branch of the company. Since the deal was concluded, demand for GE and Alstom products has declined. General Electric changed two executives in three years and lost a third of capitalization in 12 months. Earlier, GE mentioned its intention to cut staff by 12,000 in the energy business.
TUI Group to cut 8,000 jobs amid virus outbreak08.05.2020
Virgin Atlantic Airways plans to cut 3,150 jobs this year to gain new investment06.05.2020
Airbnb will slash 1,900 jobs amid travel slump due to pandemic05.05.2020
General Electric aviation plans to cut 25% of workforce amid virus outbreak