GE to cut 12,000 jobs in power business - Bloomberg

Last Updated: Thu, Dec 07, 2017 17:43 hrs

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, Bloomberg reported.

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.

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