General Electric to cut 12,000 jobs

Last Updated: Dec 07 2017 18:24

TECHNOLOGY- US industrial group General Electric is in the process to cut 18% of its global workforce to handle financial problems.

18% amounts to nearly 12,000 employees, 1,100 of whom are in UK power business, mainly in Stafford and Rugby. Then one-third of the firm's Swiss workforce and one-sixth of German workers are likely to be sacked.

The company said demand for fossil fuel power plants has decreased prompting them to cut jobs.

(Image Courtesy: Reuters)