GE Cuts Hundreds of Jobs at Onshore Wind Unit, With More to Come [Financial Post (Toronto, Ontario, Canada)]
GE Aerospace (GE)
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Source: Financial Post
(Bloomberg) — General Electric Co. is slashing jobs at its onshore wind turbine manufacturing business in a restructuring of its key renewable energy unit to counter mounting losses, according to a person familiar with the matter. Hurricane Ian footage shows thrill-seeking swimmers, yachts swept in streets Advertisement GE will reduce its US onshore wind workforce by 20%, equating to hundreds of staff, the person said, asking not to be identified because the plans were private. Cuts are also planned in Europe and Asia, the person said. “We are taking steps to streamline and size our onshore wind business for market realities to position us for future success,” a GE spokesperson said in a statement, without discussing the scope of the cuts. “These are difficult decisions, which do not reflect on our employees' dedication and hard work but are needed to ensure the business can compete and improve profitability over time.” GE is racing to resize its onshore wind business — the
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