GE to lay off 12,000 employees from its power business
General Electric said it would cut 12,000 jobs from its power division as the company attempts to cut costs and scale back on struggling business units. The layoffs are part of GE's larger effort to cut $3.5 billion in costs in 2017 and 2018. The reductions, accounting for about 18% of GE Power's workforce, include both professional and production employees.