France Fines GE $57 Million for Failing to Add Promised Jobs
Photographer: Simon Dawson/Bloomberg
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France will fine General Electric Co. 50 million euros ($57 million) for creating fewer than 3 percent of the jobs it had promised as a condition for getting the green light to take over Alstom SA’s energy business in a deal that stirred political controversy.
The Boston-based company added a net of 25 jobs over the past three years compared with the 1,000 it had pledged, French Finance Minister Bruno Le Maire said in a statement Tuesday. The money will be put into a state-operated fund designed to foster industry, and GE plans to develop renewable energy operations in France, he said.