At least 2,500 European employees of General Electric (GE) Co protested in Paris on Friday against the US industrial conglomerate’s restructuring plans, which include 6,500 job losses throughout the continent.
The demonstrators came to the French capital from throughout Europe, with 700 from Germany and hundreds more from Italy, Poland, Belgium and France itself.
A large number were from French company Alstom SA, four months after GE acquired its power and grid businesses.
Photo: AFP
Other protests took place in Germany, Spain, Austria, Belgium, the Czech Republic, Sweden and Switzerland, international union federation IndustriALL said.
To the sounds of whistles, klaxons and rattles, the Paris protesters brandished banners reading: “Stop the massacre of jobs” and, in English: “Keep your word, stop job cuts!”
GE is most of the way through a restructuring to hone its focus on its key traditional industrial businesses, which include railway equipment and renewable energy like wind turbines, and to grow in newer sectors, such as healthcare and energy management.
In January, the firm announced plans to cut up to 6,500 jobs in Europe in the energy units it acquired from Alstom last year, drawing a fierce union response and warnings from the French government.
Of those job cuts, 1,700 were said to be from Germany, 1,300 from Switzerland, 765 from France and 500 from both Britain and Spain.
“GE has never seen this type of protest,” Laurent Santoire of the French trade union CGT said of Friday’s event in Paris.
“They don’t care about the social issues. They have great big salaries and they are destroying our jobs. We will continue our European fight, together and in solidarity, for our families, our homes... We will not give in,” Wolfgang Lemb of the German IG-Metall union said.
Last month, GE asked that US regulators drop its designation as a systemically important financial institution in light of significant divestitures over the past year.
TECH TITAN: Pandemic-era demand for semiconductors turbocharged the nation’s GDP per capita to surpass South Korea’s, but it still remains half that of Singapore Taiwan is set to surpass South Korea this year in terms of wealth for the first time in more than two decades, marking a shift in Asia’s economic ranks made possible by the ascent of Taiwan Semiconductor Manufacturing Co (TSMC, 台積電). According to the latest forecasts released on Thursday by the central bank, Taiwan’s GDP is expected to expand 4.55 percent this year, a further upward revision from the 4.45 percent estimate made by the statistics bureau last month. The growth trajectory puts Taiwan on track to exceed South Korea’s GDP per capita — a key measure of living standards — a
READY TO HELP: Should TSMC require assistance, the government would fully cooperate in helping to speed up the establishment of the Chiayi plant, an official said Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said its investment plans in Taiwan are “unchanged” amid speculation that the chipmaker might have suspended construction work on its second chip packaging plant in Chiayi County and plans to move equipment arranged for the plant to the US. The Chinese-language Economic Daily News reported earlier yesterday that TSMC had halted the construction of the chip packaging plant, which was scheduled to be completed next year and begin mass production in 2028. TSMC did not directly address whether construction of the plant had halted, but said its investment plans in Taiwan remain “unchanged.” The chipmaker started
MORTGAGE WORRIES: About 34% of respondents to a survey said they would approach multiple lenders to pay for a home, while 29.2% said they would ask family for help New housing projects in Taiwan’s six special municipalities, as well as Hsinchu city and county, are projected to total NT$710.65 billion (US$23.61 billion) in the upcoming fall sales season, a record 30 percent decrease from a year earlier, as tighter mortgage rules prompt developers to pull back, property listing platform 591.com (591新建案) said yesterday. The number of projects has also fallen to 312, a more than 20 percent decrease year-on-year, underscoring weakening sentiment and momentum amid lingering policy and financing headwinds. New Taipei City and Taoyuan bucked the downturn in project value, while Taipei, Hsinchu city and county, Taichung, Tainan and Kaohsiung
Micro-Star International Co (MSI, 微星科技) is expanding notebook computer production in India after partnering with Indian electronics maker Syrma SGS Technology Ltd late last year, as the Taiwanese company seeks to tap into the local market. MSI also plans to manufacture some of its new gaming PCs powered by Nvidia Corp’s RTX 50 graphics cards in India, while adding more advanced and design-focused PCs and notebooks at Syrma’s plant in Chennai, a source told the Taipei Times yesterday on condition of anonymity. MSI’s deployment in India is driven not only by cost advantages, but also by India’s rapidly expanding consumer market and