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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Alstom | EU:ALO | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.69 | 4.64% | 15.565 | 15.565 | 15.575 | 15.60 | 14.945 | 14.97 | 633,095 | 12:53:43 |
From May 2019 to May 2024
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 €12.4 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 07:05 ET (12:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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