🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Alstom to cut up to 1,300 jobs in Germany in restructuring drive

Published 12/10/2021, 09:38 AM
Updated 12/10/2021, 09:41 AM
© Reuters.
ALSO
-
BDRBF
-

MUNICH (Reuters) - French train maker Alstom (PA:ALSO) plans to cut up to 1,300 of its roughly 10,000 jobs in Germany over the next three years as part of a restructuring after the purchase of Bombardier (OTC:BDRBF)'s rail unit, a spokesperson for the company said.

Production of trains in Germany, where Alstom has its biggest workforce, is to be shrunk and partly moved abroad, the spokesperson said on Friday, confirming comments by labour union IG Metall.

At the same time, the company will create 600 to 700 new jobs in signalling technology and the software business, the person said.

Alstom, which makes trains and signalling systems for urban and regional rail networks, said some plants in Germany were structurally underutilised and that it aimed to integrate production more closely into its European network.

It aims to carry out the redundancies in a socially responsible manner, via internal transfers, re-training, early retirement or severance packages, it said.

© Reuters. FILE PHOTO: A logo of Alstom is seen at the Alstom's plant in Semeac near Tarbes, France, February 15, 2019.   REUTERS/Regis Duvignau/File Photo

IG Metall, which opposes Alstom's plans to cut jobs, said the plan would particularly affect sites in eastern Germany, with 350 to 450 of the job cuts to hit Hennigsdorf outside Berlin and 300 to 400 Goerlitz.

The new jobs would be primarily in Mannheim and Braunschweig in western Germany as well as in Berlin. Alstom's site in Kassel will not be affected, it said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.