Job cuts in distressed economy pit Hollande against ArcelorMittal
Afterward, . Hollande’s office issued a communique saying the president had “reaffirmed his desire to insure the sustainability of jobs at the site and presented the different possible options”. The statement said the discussions would continue.
ArcelorMittal spokesman Giles Read also said the discussions would continue, but declined to comment further.
To promote France as a destination for foreign investors, the government recently hired the French advertising giant Publicis to create the international 'Say Oui to France' campaign, which is running in the United States, Canada, China, India and Brazil.
A glossy brochure notes proudly that France is already home to 20,000 foreign companies and as recently as last year was the leading destination for corporate foreign investment. “Our objective is to leverage France’s attractiveness to remain a key investment destination in Europe,” the brochure says.
But in fact, France is hemorrhaging industrial jobs to such an extent — 750,000 in the past decade — that in a government-commissioned report made public this month, Louis Gallois, a prominent businessman, called for “a competitiveness shock” to stanch the bleeding.
That is why critics say Montebourg’s hard
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