French power utility GDF Suez (GSZ.FR) plans to cut as much as 190 million euros ($260 million) in reducing the number of administrative centers in Belgium and France , newspaper Les Echos reported Tuesday, citing Olivier Biancarelli, the company's deputy general secretary.

The company will reduce the number of administrative centers in the two countries by 2015, the newspaper added.

A spokeswoman at GDF Suez wasn't immediately able to confirm the report.
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