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Economy

French nuclear giant Areva to slash 1,500 jobs in Germany

media Areva boss Philippe Knoche announces the company's losses on 4 March Reuters/Philippe Wojazer

French nuclear group Areva is planing to cut about 1,500 jobs in Germany by the end of 2017, company officials said on Wednesday. Unions fear that some of the eight sites in the country may close.

Areva boss Philippe Knoche told a meeting with workers’ representatives on Tuesday that the company plans to slash 1,500 full-time equivalent jobs by the end of 2017, 500 of them this year, a company spokesperson said.

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

Areva employs more than 5,000 people across eight sites in Germany, according to the group's website.

Niclas said that there will be more negotiations in April and said he feared that some sites may close, particularly that at Offenbach in western Germany.

Last week Areva, which is majority state-owned, confirmed that it had lost 4.8 billion euros in 2014, slightly less than an earlier prediction of 4.9 billion euros.

It said it would make savings of one billion euros over the next few years and announce a finance plan by the end of March.
 

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