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The NewsFuror

Tuesday, October 9, 2007

Suez to create 20,000 extra jobs


French utility group Suez says it plans to hire 20,000 extra staff next year, increasing its workforce by 14% as it prepares to merge with Gaz de France.

Suez says the jobs will be created as part of plans to hire 110,000 extra workers globally over five years.

Its long-running plans to merge with Gaz de France and create one of the world's largest utility groups were finally agreed last month.

French unions had opposed the deal, fearing job cuts at Gaz de France.

Controversial merger

The French government currently has a 79.9% share holding in Gaz de France.

It will hold a stake of more than 35% in the combined group, which will be called GDF Suez.

Suez currently employs 140,000 people worldwide, while Gaz de France has a workforce of about 53,000.

The pair's long-running merger plans had attracted controversy, with critics saying that the French government was supporting the merger as a means to dissuade Suez from merging with Italian energy company Enel.

While Gaz de France specialises in the sale of natural gas, Suez provides gas, electricity and water.

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