French nuclear giant Areva to axe more than 5,000 jobs worldwide

Up to 4,000 jobs will be shed in France as part of cost-cutting plan that will include selling off assets, following four years of operating losses.

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Beleaguered French nuclear engineering firm Areva plans to reduce its global payroll by between 5,000 and 6,000 jobs as part of a cost-cutting effort after years of losses, reports The Wall Street Journal.