General Electric to shed 12,000 jobs

Source: BBC News

General Electric is to cut 12,000 jobs in its power business, 18% of the division’s global workforce.

The US industrial group expects the “painful but necessary” job losses to help save $1bn next year as demand for fossil fuel power plants wanes.

GE intends to cut 1,100 jobs from its UK power business, mainly in Stafford and Rugby.

Elsewhere, one-third of the firm’s Swiss workforce and one-sixth of German workers are likely to be hit.

Read more

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s