GE to cut 4.5k jobs in Europe

General Electric announced plans to eliminate 4,500 jobs in Europe from its French conglomerate Alstom's power and grid businesses, according to Reuters.

Last month, CEO John Flannery outlined his plan to restructure the company. According to the plan, GE will increase its focus on its healthcare, aviation and energy businesses.

GE proposed the layoffs to a council representing the interests of legacy Alstom workers. The cuts would come in Switzerland, Germany and the U.K. The reported layoffs are part of GE Power's plan to integrate GE's energy connections and power businesses in an attempt to save nearly $1 billion next year, according to Reuters.

"Based on the current challenges in the power industry and a significant decline in orders, GE Power is currently reviewing its operations to ensure the business is best positioned to respond to our market realities and for long-term success," GE spokesman Jeff Caywood said in a statement to Boston Business Journal.

More articles on health IT:

Atlanta tech companies worried tax bill implicates research

4 tips for using EHR data in public health

Former employee at San Antonio clinic steals 28k patients' information

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars