GE to cut 12,000 jobs in power business


Dec 7 (Reuters) - General Electric Co is planning to cut 12,000 jobs in its power business, Bloomberg reported on Thursday, citing a person familiar with the matter.

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, Bloombergreported

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.

This article appears in: World Markets , Stocks
Referenced Symbols: GE

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