Total To Cut 249 Jobs In Refining Operations By 2013, No Layoffs
March 10 2009 - 1:15PM
Dow Jones News
French oil giant Total SA (TOT) said Tuesday that it plans to
cut 249 jobs by 2013 at its refining operations in France but
doesn't plan any layoffs.
In a statement, Total also said it plans to cut 306 jobs at its
petrochemical operations by 2012, without any planned layoffs.
On both matters, Total said that it is committed to finding
appropriate solutions for the employees concerned... with an
emphasis on internal placement."
Overall and until mid-2013, Total plans to reduce its workforce
by 555 positions through "internal placement, retirements, a
dedicated early retirement plan, and the introduction of a furlough
system."
Total also said that it intends to invest more than EUR1 billion
in France to "adapt and consolidate" its refining and
petrochemicals operations and to pursue growth in solar energy.
Total also said it will implement a plan to reconfigure its
Normandy refinery which entails a shift to production emphasis on
diesel.
Total said it will spend EUR770 million to upgrade the facility
which should see a capacity cut to 12 million metric tons a year
from 16 million tons.
Investments will increase the annual average diesel output by
10% and reduce surplus gasoline output by 60%.
Company Web site: www.total.com
-By Alice Dore, Dow Jones Newswires; +33 1 4017 1740;
alice.dore@dowjones.com