Thursday, 7 December 2017

Industrial giant General Electric plans to cut 1,100 UK jobs

Industrial giant General Electric has announced plans to cut 1,100 jobs from its UK power business.
The proposals, blamed on a downturn in the global gas and coal market, will mainly affect activities at sites in Stafford and Rugby, with 500 roles going at each.
The jobs are among 12,000 being cut worldwide as the company slashes costs.

GE currently employs 18,000 people in the UK and the cuts represent 6% of the workforce in this country. The company set out the plans to its staff on Thursday.

Mark Elborne, head of GE UK and Ireland, said: "Unfortunately, we believe that these changes are necessary to ensure that we can remain competitive and secure the future of GE Power in the UK."

GE said the changes were "driven by challenges in the power market worldwide".

It added: "Traditional power markets including gas and coal have softened.

"Volumes are down significantly in products and services driven by overcapacity, lower utilisation, fewer outages, an increase in steam plant retirements and overall growth in renewables.

SKY      News.

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