General Electric to Cut 12,000 Jobs in Power Business Revamp
December 7th, 2017Via: Reuters:
General Electric Co (GE.N) is axing 12,000 jobs at its global power business, the struggling industrial conglomerate’s latest effort to shrink itself into a more focused company.
The U.S. company launched the cuts to save $1 billion in 2018, saying it expected dwindling demand for fossil fuel power plants to continue.
“Traditional power markets including gas and coal have softened,” GE said.
