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Alstom SA to Cut 1,300 Jobs; Plans Sale of Minority Stake and Non-Strategic Assets-Reuters


Wednesday, 6 Nov 2013 07:07am EST 

Reuters reported that Alstom SA is to cut 1,300 jobs, According to the Company's Chairman and Chief Executive Officer, the redundancies would largely concern Germany, in particular workers involved in the production of coal boilers. Employees in France, in particular those working in information technology, will also be affected. The Company's , Chief Financial Officer Nicolas Tissot was also quoted by Reuters as saying that further job cuts would follow in 2016. Alstom SA also announced that it will study the sale of a minority stake in Alstom Transport to industrial partners or financial investors. Alstom SA also intends to dispose of non-strategic assets. Globally this program is targeting EUR 1 to 2 billion of proceeds by December 2014. 

Company Quote

28.125
-0.03 -0.11%
28 Nov 2014