GE to Cut 6,500 Jobs in Europe After Alstom Purchase



According to a recent Bloomberg report, General Electric plans to eliminate 6,500 jobs in Europe in a global restructuring effort as it seeks $3 billion in cost savings from its purchase of Alstom SA’s energy business.

The cuts, Bloomberg reported, include 1,700 positions in Germany and 765 in France. They are part of a broader push to trim overlapping expenses following one of GE’s largest-ever acquisitions, which closed in November.

The company expects to generate $1.1 billion in savings this year and almost three times that amount by the end of the decade, Bloomberg said.


Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
terry.mulreany@monitordaily.com
Susie Angelucci
Advertising: 484.459.3016
susie.angelucci@monitordaily.com

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com