ALSO READGE to shrink, investors worry it will be less profitable GE tumbles for a second day after announcing major overhaul GE stock deflates for a second day after announcing major overhaul GE stock drops as profit misses, CEO cuts forecast GE vows $20 billion asset sales, 'sweeping change' as profit falls
The job cuts, which account for about 18 percent of GE Power's workforce, will mostly impact professional and production workers outside the United States, Bloomberg reported. (https://bloom.bg/2BOAfLj)
Industry sources told Reuters on Wednesday GE would cut 4,500 jobs in Europe, as it shrinks its troubled power generation business. GE confirmed substantial layoffs in Germany and Switzerland on Thursday.
(Reporting by Arunima Banerjee in Bengaluru; Editing by Bernard Orr)
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