The cuts affect both production and office jobs.
NEW YORK – General Electric Co. will cut 12,000 jobs in its energy division due to increased demand for renewable energy sources to the detriment of coal and other fossil fuels.
The company said on Thursday (Dec. 7) that the cuts, both in production and office jobs, will help to « correct the size » of GE Power to the decline of traditional energy markets and the volume of fuel they use.
The staff reduction will cut spending by $1 billion at GE Power in 2018, the company added.
GE announced last month that it would reduce its dividend by half and that the group would focus on three key sectors: aviation, health and energy.
