November 6, 2013 / 7:48 AM / 4 years ago

Alstom to shed 1,300 jobs in cost-cutting drive

PARIS (Reuters) - Alstom (ALSO.PA) plans to cut 1,300 jobs worldwide, mainly in Europe, as part of a cost-cutting drive that will see it sell a minority stake in its transport business, Chief Executive Patrick Kron said on Wednesday.

    The group said it planned to raise 1 to 2 billion euros in asset sales by December 2014 after a lack of large orders hit first-half results.

    Kron told reporters on a conference call that the company’s balance sheet was solid and that it did not need to raise fresh capital.

    Reporting by Natalie Huet; Editing by James Regan

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below