GE set for cost cuts as EU decision on Alstom deal nears

[riky]

GE set for cost cuts as EU decision on Alstom deal nears

<p><a href="http://news.yahoo.com/ge-set-cost-cuts-eu-decision-alstom-deal-153744271--sector.html"><img src="http://l3.yimg.com/bt/api/res/1.2/1aJb1xpGm_x_ZsUNbUdAcQ--/YXBwaWQ9eW5ld3NfbGVnbztmaT1maWxsO2g9ODY7cT03NTt3PTEzMA--/http://media.zenfs.com/en_us/News/Reuters/2015-09-04T153744Z_1_LYNXNPEB830V8_RTROPTP_2_ELECTROLUX-GENERAL-ELECTRIC.JPG" width="130" height="86" alt="The General Electric logo is seen in a Sears store in Schaumburg" align="left" title="The General Electric logo is seen in a Sears store in Schaumburg" border="0" /></a>European regulators have expressed concerns over the combined company's control of the gas turbine market. In May, GE told investors it expects $3 billion in cost reductions over the next five years as it combines its operations with those of Alstom, more than double the previous target when the deal was first announced in April 2014. Outside of France, GE said last year that 18,000 of Alstom's 65,000 total employees involved in the deal worked in Europe, where works councils can make job cuts difficult.</p><br clear="all"/>

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