If the US company General Electric does not create as many jobs at Alstom as agreed when it purchased its energy subsidiary in 2015, a French government spokesman on June 17 warned it should be fined.
When it bought Alstom’s energy business, GE has promised to create 1,000 net new jobs. So far, it has only created only a couple of hundred jobs – a total 323 by the end of April.
As reported by the Reuters news agency, GE Chief Executive John Flannery informed French Finance Minister Bruno Le Maire this week that the target was now “out of reach” because of difficult market conditions.
Le Maire urged GE to “take all necessary measures to comply to the best of its abilities” with the 2015 deal, under which GE will be fined €50,000 for each job not created.
“Sanctions must set an example. €50,000 should be applied by the end of the year if GE does not stick to its commitments,” government spokesman Benjamin Griveaux told France 3 television.
“When you make commitments to the government, you respect them,” he added.
