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Alstom works council to consider new cost-cutting plan
April 15, 2014 / 7:00 AM / 3 years ago

Alstom works council to consider new cost-cutting plan

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PARIS, April 15 (Reuters) - A further cost-cutting plan involving Alstom's transport division at its headquarters in the Paris region and in Barcelona, Spain, is to be put before the French engineering group's works council on Tuesday, a company spokeswoman said.

The project comes on top of 1,300 job cuts already being planned, the spokeswoman said, confirming a report in Les Echos newspaper, which said the new programme involves cutting a further 400 jobs.

The company said in November last year there would be further job reductions. Alstom employs over 94,000 people worldwide, Reuters data shows.

Alstom is preparing to sell its transport business as early as June, possibly via a share sale if a trade buyer cannot be found sooner for the maker of France's iconic high-speed trains.

The company is selling assets in an attempt to shore up a balance sheet battered by weak orders for power equipment. It was forced to lower its profitability and cash-flow targets earlier this year.

Reporting by Cyril Altmeyer; Writing by Andrew Callus; Editing by Mark John and Jason Neely

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