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No compulsory jobs cuts in SNCF says CEO Pepy to Le Figaro

France's parliament last month approved ending generous benefits and pensions for future employees.


Reuters Last Updated at 28 Jul 2018, 02:07 IST France

French state railway monopoly SNCF is not planning compulsory jobs cuts, the chief executive said on Friday after it reported a net loss of 762 million euros ($888 million) in the first half of the year after being hit by a 37-day strike.

SNCF reported first-half sales of 16.1 billion euros in the six months to June, down 3.3 percent compared with the same period a year ago after the strike by rail workers from April to June over government reform plans, Guillaume Pepy said.

France's parliament last month approved ending generous benefits and pensions for future employees, while the government will write off 35 billion euros of its 47 billion euros debt.

Pepy told Le Figaro newspaper on Friday that no compulsory job cuts were planned under the reforms, with most departures to be voluntary or through retirements over the coming years.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


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