GE’s first quarter results could be a bargaining point for the French government since profits rose more than what GE had expected.
General Electric (GE) has announced a plan to slash nearly 1,000 jobs in France.
The move is likely to place the U.S. company at odds with the French government which has repeatedly requested the U.S. company not to cut French jobs.
According to a trade union source, the planned job cuts are likely to occur principally at its Belfort site, in eastern France.
With GE looking to prune up expenses, the Belfort site has been consistently at risk of job cuts.
Earlier this month, French Finance Minister Bruno Le Maire had said he had asked GE not to close any sites in France.
In April 2019, in its first quarter results, GE had reported that it had generated more profit and lost less cash than expected; however, its Larry Culp, its new CEO had warned that the company continues to face negative cash flow pressures.