France’s EDF to withdraw from some overseas projects, cut job

French energy company EDF is planning to cut its headcount overseas and scrap bids on some nuclear projects abroad as it focuses on a major construction programme at home under new CEO Bernard Fontana, said two sources familiar with the matter.

Why it matters

France, a global leader in nuclear energy and Europe’s largest nuclear power producer, is pulling back at a time of global calls for nuclear expansion, opening the door to new players as high costs and design issues hurt its ability to compete internationally.