https://www.reuters.com/article/us-ge-jobs/ge-to-cut-12000-jobs-in-power-business-bloomberg-idUSKBN1E11GU

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ZURICH (Reuters) - General Electric Co ( GE.N ) announced on Thursday it was axing 12,000 jobs at its global power business as the struggling industrial conglomerate responds to dwindling demand for fossil fuel power plants. The logo of General Electric is seen at its plant in Baden, Switzerland November 15, 2017. REUTERS/Arnd Wiegmann. The U.S. company launched the cuts to save $1 billion in 2018, saying it expected current difficulties in the sector to continue. “Traditional power markets including gas and coal have softened,” GE said. Rumors of sweeping job cuts were confirmed by labor union sources on Wednesday, with staff in Switzerland and Germany among those badly hit. “This decis... Full story

7 days ago, 7 December

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