PARIS (Reuters) - France-based gas and power utility GDF Suez GSZ.PA plans to cut more than 4,000 jobs in the next three years as part of its cost savings plan, the country’s biggest trade union said on Monday.
“The group expects to cut 1,400 jobs a year, or more than 4,000 in the next three years,” CGT said in a statement.
The plan, called Perform 2015, is targeting 4.5 billion euros ($5.9 billion) in savings by 2015, the union said.
The company said at the end of last year it would cut costs in a bid to boost results by 3.5 billion euros a year from 2015 as it grappled with a ‘challenging’ European market.
No one at GDF Suez was immediately available to comment.
Reporting by Patrick Vignal and Alexandre Boksenbaum-Granier; Writing by Elena Berton; Editing by Greg Mahlich