General Electric (GE), Boston, said it will eliminate 12,000 jobs in its Power Division in response to changing market dynamics and the company’s need to cut costs to improve profitability. The cuts to headcount, which will affect both professional and production employees, are part of a push to remove $1 billion from the division’s structural costs in 2018, GE said in a release. The company overall aims to cut $3.5 billion in structural costs as part of a plan by new chairman and
GE to Cut 12,000 Jobs Globally
The cuts are concentrated in GE's Power Division and most will come outside the United States.