Rise of renewables and energy efficiency takes toll on GE
GE cuts 12,000 jobs from its power generation division as Renewables and efficiency cut demand for new gas powerplants.
GE cuts 12,000 jobs in its power division: a "painful" move to "reset" by a bloated industrial giant struggling to keep pace with seismic shifts in renewable energy, natural gas and fossil fuels. w/
G.E. misjudged the market for smaller and replacement equipment and found itself with a pile of excess inventory
General Electric is cutting 18% of the jobs in its power division, trying to keep up with seismic shifts in the energy market
Roiled by past mismanagement and changes in energy picture, GE power cuts jobs