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September 21, 2018

GE's power division planning to cut 12,000 jobs

GE Power, a division of Boston-based General Electric Corp., said Thursday that it plans to cut 12,000 jobs across the globe as part of a plan to reduce costs by $1 billion in 2018.

GE said the cuts are a result of challenges in the power market worldwide, specifically a softening in the gas and coal industries.

“This decision was painful but necessary for GE Power to respond to the disruption in the power market, which is driving significantly lower volumes in products and services,” said…

Source: Boston Biz

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