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.