General Electric to cut 12000 jobs in power business revamp

General Electric to cut 12000 jobs in power business revamp

A third of the company’s Swiss workforce face layoffs, while 16 percent of its staff in Germany are also likely to be axed in the shake up. GE said it had begun talks with labor leaders about the steps. Demand for new thermal power plants dramatically dropped in all rich countries, GE said, while traditional …

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