(Reuters) – General Electric Co (GE.N) is planning to cut 12,000 jobs in its power business, Bloomberg reported on Thursday, citing a person familiar with the matter.

The logo of General Electric is seen at its plant in Baden, Switzerland November 15, 2017. REUTERS/Arnd Wiegmann

The job cuts, which account for about 18 percent of GE Power’s workforce, will mostly impact professional and production workers outside the United States, Bloomberg reported. (bloom.bg/2BOAfLj)

Industry sources told Reuters on Wednesday GE would cut 4,500 jobs in Europe, as it shrinks its troubled power generation business. GE confirmed substantial layoffs in Germany and Switzerland on Thursday.

Reporting by Arunima Banerjee in Bengaluru; Editing by Bernard Orr

Our Standards:The Thomson Reuters Trust Principles.



Source link

Comments

comments