GE Plans to Cut 12,000 Employees in its Power Business

SUGAR LAND--December 8, 2017--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--The Power business at General Electric (NYSE:GE) (Boston, Massachusetts) plans to reduce its staff by about 12,000 in a global response to a slowdown in fossil fuel-related work, the company announced Thursday. The job losses could amount to 20% of the company's Power employee base worldwide. Europe will absorb about half the job losses, a GE spokesperson told Industrial Info, and the remaining 6,000 job losses will be spread around the rest of the globe. Professional staff as well as production-line employees will be affected. But the cuts do not apply to GE's Renewable Energy segment, the spokesperson said.

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