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Investing.com -- French energy giant EDF (EPA:EDF) plans to reduce its overseas workforce and withdraw from several international nuclear project bids, Reuters reported on Wednesday, citing sources familiar with the matter.
The company’s newly appointed CEO Bernard Fontana, who took the helm in April, has already communicated to a parliamentary hearing his intention to prioritize French nuclear projects over international ventures, the report said.
The company’s international division currently employs hundreds of people and has previously completed reactor projects in China, Finland, and Britain.
In recent weeks, Fontana has outlined specific changes to EDF’s overseas strategy, the report said, adding that the company will now concentrate on nuclear project tenders in European countries including the Netherlands, Sweden, and Finland.
According to the report, EDF will step back from pursuing projects in Poland, India, Canada, and other non-European locations.
By scaling back its international presence, EDF aims to cut costs and redirect personnel to higher-priority initiatives.
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