General Electric is cutting thousands of jobs in the division that makes turbines for gas and coal plants
12,000
Increased demand for renewable energy is forcing General Electric to cut 12,000 jobs in its power division.
Published | Photo by Reuters/Daniel Becerril
Among other things, the power division sells turbines and other heavy machinery to gas and coal plants. With clean energy getting cheaper and more popular, the unit is struggling to find customers.
Those jobs represents 4% of GE’s overall 295,000-strong workforce. The cut will get the company $1 billion closer to the goal of reducing fixed costs by $3.5 billion.
