French arms group Thales hires 12000 amid boom in orders

French arms group Thales hires 12,000 amid boom in orders

PARIS, Feb 26 (Portal) – French defense and technology group Thales (TCFP.PA) plans to hire 12,000 new employees this year as there is strong demand across its product range, CEO Patrice Caine said in an interview with the French weekly newspaper Le Journal du Dimanche.

He said that Thales, which has a total of 80,000 employees, including 40,000 in France, has hired 5,000 to 8,000 people a year for the past eight years and that it had already hired 11,500 new employees last year.

Caine said that all of the company’s operations — defense and security, aerospace, identity and digital security — have grown significantly.

“The company is a reflection of its markets, all of which are dynamically growing, with growing demands in all our areas of activity,” he said.

Caine, who recently met with Ukraine’s defense minister, said France will deliver its Ground Master 200 radar air defense system to Ukraine in May.

last update

Watch 2 more stories

Since the Russian invasion of Ukraine began on February 24, 2022, shares in Thales (TCFP.PA) – Europe’s largest weapons electronics supplier – are up almost 60% to new all-time highs, outperforming the Refinitiv Europe Aerospace & Defense Index (.TRXFLDEUPUI11) .

President Emmanuel Macron said in January that French military spending would increase by more than a third in the coming years, with the military budget projected to rise to 413 billion euros ($447 billion) in 2024-2030, up from 295 billion euros in 2019-2025 Period in which the army adapts to a new security environment after Russia’s invasion of Ukraine.

Reporting by GV De Clercq; Edited by Frank Jack Daniel

Our standards: The Trust Principles.