BREAKING NEWS

BREAKING NEWS

Gemalto CEO sticks to plan to cut 288 jobs in France

Now Reading:

Gemalto CEO sticks to plan to cut 288 jobs in France

Gemalto CEO sticks to plan to cut 288 jobs in France
Text size Aa Aa

PARIS (Reuters) – Chipmaker Gemalto, which is being taken over by aerospace and defence group Thales will stick to a plan to cut 288 jobs in the struggling chip card business in France, its chief executive said on Monday.

“This plan is maintained. It reflects the need to trim and optimise staff that we dedicate to the SIM card business,” Philippe Vallee told BFM business radio.

He added that the company would aim to redeploy staff internally, whenever possible.

Thales on Sunday agreed to buy Gemalto for 4.8 billion euros (4.23 billion pounds), trumping an earlier bid by fellow French firm Atos to expand in the fast-growing digital security market.

Union officials at Gemalto had cautioned that the announcement did not refer to the chip card business.

(Reporting by Dominique Vidalon; Editing by Stephen Coates)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.