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Veolia to Cut More Than 700 Jobs in France, Unions Tell AFP

Dec. 3 (Bloomberg) -- Veolia Environnement’s water unit is expected to cut between 700 and 750 administrative jobs in France in 2014, AFP reported, citing labor unions.

The unit’s management made the decision last Thursday, AFP said. Chief Executive Officer Antoine Frerot is almost two years into a turnaround plan designed to reduce the Paris-based utility’s global reach, curb debt and raise profitability.

To contact the reporter on this story: Louisa Fahy in Washington at lnesbitt@bloomberg.net

To contact the editor responsible for this story: Andrea Snyder at asnyder5@bloomberg.net

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