Alstom shares plunge as Derby job losses increase

The number of jobs which could be lost in Derby because of the Alstom crisis has more than doubled. Earlier reports suggested that 600 jobs could be shed because of a lack of orders, but it is now feared that more than 1300 workers could be laid off. In a statement issued a short time ago, Alstom said it is set to cut 1500 jobs worldwide. The markets have reacted badly, with the value of Alstom shares falling by 16 per cent since stock exchanges opened this morning.