French defense group Thales hires 12,000 employees as orders boom

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

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

All of the company’s activities — defence, security, aerospace, identity and digital security — have been growing strongly, Kane said.

He said, “The company is a reflection of its markets, which are all witnessing dynamic growth, with increasing needs in all areas of our activity.”

Kane, who recently met with the Ukrainian Defense Minister, said that France will deliver the Groundmaster 200 radar air defense system to Ukraine in May.

Since Russia’s invasion of Ukraine began on February 24, 2022, shares of Thales (TCFP.PA) – Europe’s largest weapons electronics provider – have risen nearly 60% to all-time highs, outperforming Refinitiv Europe Aerospace & Defense (.TRXFLDEUPUI11).

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

A report by GV De Clercq; Edited by Frank Jack Daniel

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