BUSINESS General Electric to cut 4,500 jobs in Europe

BUSINESS

General Electric to cut 4,500 jobs in Europe

Reuters

09:51, December 06, 2017

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The logo of General Electric is seen at its plant in Baden, Switzerland November 15, 2017. REUTERS/Arnd Wiegmann

U.S. firm General Electric (GE.N) will cut 4,500 jobs across Europe after reviewing assets it purchased from France’s Alstom (ALSO.PA) in 2015, French newspaper Les Echos said on Tuesday.

Citing a union source, the report said the cuts would take place in Switzerland, Germany and Britain.

GE said in a statement it was “reviewing its operations to ensure the business is best positioned to respond to our market realities and for long-term success.”

It did not mention any job losses, but said it had put forward a proposal to the European body representing legacy Alstom employees.


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