France's Government and GE Clash Over Alstom Job Targets Miss

Date : 06/14/2018 @ 5:50AM
Source : Dow Jones News
Stock : General Electric Company (GE)
Quote : 12.95  0.0 (0.00%) @ 5:03AM

France's Government and GE Clash Over Alstom Job Targets Miss

Gen Electric (NYSE:GE)
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   By Nathan Allen 
 

French Economics Minister Bruno Le Maire has expressed strong regret that General Electric Co. (GE) missed job-creation targets relating to its purchase of Alstom SA's (ALO.FR) energy assets in 2015, according to a government statement released Thursday.

The commitment to create 1,000 net jobs by 2018 is now out of reach, the economy ministry said after a meeting between Mr. Le Maire and GE Chief Executive John Flannery.

By the end of April, the U.S. industrial conglomerate had only created 323 jobs. Mr. Le Maire requested that the group take all available action to meet the original targets.

 

Write to Nathan Allen at nathan.allen@dowjones.com

 

(END) Dow Jones Newswires

June 14, 2018 05:35 ET (09:35 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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