GE cutting 20% of US onshore wind workforce [FOX Business Network]
GE Aerospace (GE)
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Source: FOX Business Network
General Electric is laying off 20% of its onshore wind workforce in the U.S. – part of its renewable energy business – resulting in hundreds of job cuts. "We are taking steps to streamline and size our onshore wind business for market realities to position us for future success," a GE Renewable Energy spokesperson told FOX Business. "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." ?? ?? Image 1 of 2 The spokesperson added that the company is also reviewing its onshore wind footprint in Europe and the Asia-Pacific region. As of the end of 2021, GE's Renewable Energy business had roughly 38,000 employees. PELOTON CUTS ANOTHER 500 JOBS, COMPLETING ‘VAST MAJORITY' OF RESTRUCTURING In the second quarter of 2022, GE reported total revenue of $18.6 billion. The Renewable Energy and Power segments posted total revenues of $3.099 billion and $4
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