Total SA, Europe's third-largest oil company, plans to meet union workers at its French marketing unit next week to discuss a reorganization that may include job cuts, said two people with knowledge of the talks.
The number of positions that may be eliminated isn't known, said the people, who declined to be identified because the discussions aren't public.
Total last month reported second-quarter net income was little changed at 3.41 billion euros ($4.9 billion), partly because of lower refinery output. The Paris-based company said net adjusted operating income at the downstream division, which includes marketing and refining, fell 4 percent.
Sandra Dante, a spokeswoman for Total in Paris, said a meeting with union representatives is scheduled for Oct. 4. She declined to comment on the possibility of job cuts or the planned discussions.
The marketing division in France employs about 1,500 workers, Dante said.
Total shares today lost 0.8 percent to 57.02 euros in Paris trading. The stock is up 4.3 percent this year, less than the 13 percent gain by Royal Dutch Shell Plc, Europe's biggest oil company. BP Plc is the region's second largest.
The number of positions that may be eliminated isn't known, said the people, who declined to be identified because the discussions aren't public.
Total last month reported second-quarter net income was little changed at 3.41 billion euros ($4.9 billion), partly because of lower refinery output. The Paris-based company said net adjusted operating income at the downstream division, which includes marketing and refining, fell 4 percent.
Sandra Dante, a spokeswoman for Total in Paris, said a meeting with union representatives is scheduled for Oct. 4. She declined to comment on the possibility of job cuts or the planned discussions.
The marketing division in France employs about 1,500 workers, Dante said.
Total shares today lost 0.8 percent to 57.02 euros in Paris trading. The stock is up 4.3 percent this year, less than the 13 percent gain by Royal Dutch Shell Plc, Europe's biggest oil company. BP Plc is the region's second largest.
Via: Bloomberg|by Tara Patel
Francia|
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