555 jobs to go at Total after record €13.9 billion euros profit.
Philippe Goebel, managing director of Total Petrochemicals France said the posts would go at the subsidiary’s French plants, offices and research centres.
He said the job cuts were a result of overcapacity in world petrochemical production and promised that the firm would create 100 new jobs in a partnership deal with GDF-Suez to produce solar panels.
Goebel insisted that there would be no compulsory redundancies and most would be through retirements.
But, coming less than a month after the Total parent company said it had made a French record profit of 13.9 billion euros (18.0 billion dollars) last year, the announcement angered both the government and unions.
Total losses = 555
Did you enjoy this post? Why not leave a comment below and continue the conversation, or subscribe to my feed and get articles like this delivered automatically each day to your feed reader. Alternatively you can follow us on Twitter.
