France will fine General Electric for a small number of jobs


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.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong