General Electric’s recent decision to reduce its employee numbers by 12,000 globally indicate how important it thinks the trend of electric power will become, or perhaps has already become.
The significant job losses will come from the GE Power division. GE says the decision is part of its overall restructuring.
The company acknowledges that the growth in renewables is part of the reason for the cost-cutting measures. Continue reading General Electric to shed 12,000 jobs as electric future opens up