Daily Management Review

GE to lay off 1,000 workers in France


05/29/2019


The American company may have conflicts with the French authorities, who repeatedly called on GE not to do so.



GE to lay off 1,000 workers in France
General Electric (GE) is going to cut about 1 thousand jobs in France, Reuters reports, citing its own source in the union. If the company does this, it may provoke disagreements with the French authorities, who have repeatedly called on GE not to do so.

According to the agency, the planned reduction of GE jobs will occur mainly at its site in Belfort, in eastern France.

Layoffs have already become systematic there, notes Reuters, as the American giant is trying to save itself. At the same time earlier in May, French Finance Minister Bruno Le Maire said that he asked GE not to reduce the number of jobs in France.

In April, GE, reporting on the financial results of the first quarter, noted that it received more profits and incurred smaller losses than it had expected. Nevertheless, CEO of GE Lawrence Culp said that this year the company's cash flow will be negative.

The once-leading US industrial corporation continues to experience serious problems, culminating in 2018 with the exclusion of the General Electric from the Dow Jones Industrial Average. As previously reported, in 2018 the company cut a total of about 30 thousand jobs. At the end of last year, the number of jobs in GE was 283 thousand, including 97 thousand in the United States.

source: reuters.com






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