GE plans job cuts
PARIS: General Electric (GE) said on Wednesday it plans to cut up to 6,500 jobs in Europe in the energy units it acquired from France’s Alstom last year. “The restructuring plan will touch several European countries and impact potentially 6,500 jobs out of 35,000,” a GE spokesman said, confirming in part a report in the L’Est Republican newspaper saying up 10,000 jobs could go worldwide. GE completed in November its acquisition of the power and grid businesses of Alstom for 9.7 billion euros after making a number of pledges to win the support of the French government and fend off competition. One of those pledges was to create a net 1,000 jobs in France, a promise that GE intends to honour, the spokesman said, despite 765 jobs due to go in France as part of these cuts.