France's Areva says German job cuts to total 1,500

11th March 2015, Comments 0 comments

French nuclear group Areva, which incurred massive losses last year, is looking to cut around 1,500 jobs in Germany by the end of 2017, a company spokesman said Wednesday.

At a meeting between management and employees on Tuesday, Areva's chief Philippe Knoche said the company planned to cut 1,500 full-time-equivalent jobs by the end of 2017 including 500 to be carried out this year, the spokesman said.

Wolfgang Niclas, representative for the IG Metall union, said earlier that 1,000 jobs were on the line in 2016 and 2017, confirming a report in the French business daily Les Echos.

Last week the French nuclear group confirmed record net losses in 2014 of 4.8 billion euros ($5.3 billion) after it was forced to absorb costs linked to delays to its flagship next-generation reactor.

The mostly state-owned company, which had forecast losses of 4.9 billion euros, said it would make savings worth around one billion euros over the next few years and announce a financing plan by the end of March.

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© 2015 AFP

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