France: As they have not opened a new 1000 jobs, they will pay a high penalty



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ECONOMY

An American multinational, General Electric, will have to pay 50 million euros in fines in France for not having made a job announcement. They pledged to employ thousands of people by the end of 2018, but closed them instead of opening jobs.

General Electric, after taking over Alstom's job, promised to open 1,000 new jobs by the end of 2018.PHOTO: iStock

US industrial conglomerate General Electric will have to pay 50 million euros in France because it did not notice the announcement of the opening of thousands of new jobs. I would have to open them until the end of last year as part of the agreement on the acquisition of the French energy company Alstom in 2015.

Soon after the conclusion of the deal, General Electric announced the abolition of thousands of jobs in Europe. The reason for this was the reduction in oil and gas prices, which led to a drop in demand for turbines and similar equipment.

Already earlier this year, they announced in the company that they would not be able to keep the promises. They said they would pay 50,000 euros for every job they did not create – a total of 50 million euros for thousands of jobs.

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