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GDF Suez will not cut jobs after merger
- 13 years ago (2010-09-03)
- Junior Isles
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French power group GDF Suez’s deputy-chief executive, Jean-Francois Cirelli, said that the group does not plan any job cuts once the merger with International Power PLC is finalised.
Speaking in an interview with French radio BFM, Cirelli said that the group’s management offered union representatives guarantees that there would be no job cuts in France and in Europe, as the group agreed to merge assets globally, consolidating their position in the UK and the US while strengthening their business in fast-growing emerging markets.
Under the terms of the transaction, GDF Suez will inject its assets outside of continental Europe into International Power in a tie-up that would create the world’s largest independent power producer with more than 66.1 GW of generating capacity.
Further, the group still nurtures nuclear ambitions in Europe, Cirelli said.