• GE Is Laying Off 12,000 People From Its Power Business

    9 days ago - By Fortune

    General Electric plans to lay off 12,000 people from its GE Power business unit as part of a broad effort to cut $3.5 billion in costs by the end of 2018.
    The company blamed the layoffs, which represent about 4% of its total workforce, on a weak global power market, including the gas and coal industries. The company had about 295,000 employees as of December 2016, according to its corporate website.
    GE Power makes products like gas power systems and and steam turbines and sells them to utilities and industries.
    "This decision was painful but necessary for GE Power to respond to the...
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  • General Electric to cut 12,000 jobs

    9 days ago - By Reuters

    General Electric 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. Fred Katayama reports.
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  • GE sheds 12,000 jobs as part of industrial diet

    9 days ago - By Reuters

    General Electric is axing 12,000 jobs at its global power business as part of the company's effort to shrink into a more profitable business.
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