Why have things gone off the rails at Alstom? [Yahoo! Finance]
ALSTOM UNSP/ADR (ALSMY)
NASDAQ:AMEX Investor Relations:
alstom.com/investor-relations
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Source: Yahoo! Finance
The company says 1,300 permanent jobs could go and there are major concerns about the knock-on affect for other businesses in the supply chain. BBC News looks at how the crisis has come about. According to Alstom's managing director Nick Crossfield, the company can no longer guarantee a presence in the city because the main production has finished, with a gap until 2026 for the next order. If the Litchurch Lane factory does close, the UK would be the only nation in the G7 without a site able to design, develop and manufacture trains, the firm said. Mr Crossfield added it also would have a "considerable" impact on the national supply chain - with a further 15,000 jobs at risk. Alstom currently employs 3,000 people in the city - more than 1,000 are permanently based there, and many others are contractors. Contractors employed by Alstom are professionals who provide skills or services for a fixed period. They may be contracted for a set number of hours, a specific time fra
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