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Home >> Business
UPDATED: 18:01, December 08, 2005
French electricity giant EDF to cut 6,000 jobs, invest 40 billion euros
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Electricite de France (EDF), the world's biggest nuclear power generator, will cut 6,000 to 6,500 jobs over the next two years by not replacing workers who retire, the company said.

Reports here said on Thursday that the company plans to replace "one in three or four depending on their occupations" of the 9,000 employees expected to leave the company through the end of 2007.

But the company stressed that the departures would be voluntary and no one would be sacked.

Commenting on the decision, French Prime Minister Dominique de Villepin said the move was taken in response to "current global requirements" as the biggest provider of electricity in Europe "faced very real problems."

EDF also plans to invest 40 billion euros (about 47 billion US dollars) over the next five years, more than half of which in France, to "install more than 5,000 megawatts on French territory, the equivalent of five existing nuclear reactors."

It is not known how much, if any, of the investment would be in nuclear energy, although EDF did say investments would be made in the energy production, transport and distribution sectors.

Source: Xinhua


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