March 19, 2020 / 6:03 PM / 21 days ago

Total boss tells staff it will cut spending and freeze recruitment

PARIS, March 19 (Reuters) - French oil major Total will begin a recruitment freeze, increase costs savings and halt its share buyback programme, chief executive Patrick Pouyanne told staff in a video message on Thursday, a union official told Reuters.

Total plans to cut its investment programme in all segments by about 20% and find additional costs savings of around $400 million this year, Pouyanne said in the video message, according to CGT union delegate Thierry Defresne.

A Total representative was not immediately available to comment. (Reporting by Bate Felix Editing by David Goodman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below