EMCC European Monitoring Centre on Change

GDF-Suez

Company/Organisation:
GDF-Suez

Geographic Location

Country: France

Company

Sector: Utilities
Electricity, gas, steam and air conditioning supply
35.2 - Manufacture of gas; distribution of gaseous fuels through mains
Group: GDF-Suez

Employment Effects

Announcement Date: 24-10-2007
Type of Restructuring: Merger/Acquisition
Employment Effect Start: 01-01-2008
Foreseen End Date: 31-12-2013
Planned Job Creation: 60000

Additional Information

Following the merger of the energy companies Gaz de France (GdF) and Suez, it has been announced that the newly merged entity will create 60,000 new jobs in France between January 2008 and December 2013. The Chief Executive Officer of the merged firm made the announcement on 24th October 2007, and it has also been stated that the newly merged firm will focus especially on the gas supply market. The new jobs will require employees with high levels of educational attainment. The announcement of the creation of the new jobs is a result of the benefits that both firms have gained through the merger. The firms hope that synergies arising from the merger will result in substantial savings for both companies, and it has been estimated that the firms will save 600 million EUR by 2012.