|GIAT Industries (21) |
GIAT Industries (21)
A New Professional Army for France (Part 21). Sources: French Ministry of Foreign Affairs and Ministry of Defense. Paris, February 23, 1996.
Following the financial diagnostic missions requested by the Minister of Defense and the new Chairman of GIAT Industries, the particularly worrying financial situation of the company has been confirmed.
Within the context of major and continuous reductions in the Army's orders and the reinforcement of international competition, this situation requires in-depth action so that the company can rapidly recover stability in terms of European alliances.
Over the past few months, preliminary measures have been taken. A simplification in the company's Organization has just been set up. These actions are the prelude to an essential adaptation which has been the subject of broad discussions with the group's staff and management, representative authorities, local politicians and the ministries concerned.
A preliminary examination, by the Economic Commission of the Company's Central Works Council, of the general structure of the viability plan for GIAT Industries is set for the end of February. The Chairman of GIAT Industries will expose this plan to the Company's Central Works Committee at the end of March 1996 and will then expose it in detail to the Company's Board of Directors one month later.
At all events, these restructurations will be carried out without resorting to direct dismissal of workers.