General Electric faces stiff fines for not creating jobs

Posted On: Jun. 18, 2018 6:15 AM CST

Benjamin Griveaux, spokesman for the French government, said that U.S.-based General Electric Co. could face stiff fines if it fails to create new jobs at French multinational firm Alstom S.A., Reuters reported citing media sources. France's finance ministry said that General Electric had committed to create 1,000 new jobs by the end of this year when it purchased Alstom's energy subsidiary in 2015. The company had created only 323 by the end of April, the ministry added. Mr. Griveaux said that General Electric faces a fine of €50,000 ($58,000) for each job not created by the end of this year.