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BRIEF-GE Power Announces Global Headcount Reduction Of 12,000 Jobs
December 7, 2017 / 11:42 AM / 9 days ago

BRIEF-GE Power Announces Global Headcount Reduction Of 12,000 Jobs

Dec 7 (Reuters) - General Electric Co:

* GE POWER ANNOUNCES GLOBAL HEADCOUNT REDUCTION OF 12,000 JOBS

* GE POWER - PLANS TO REDUCE GLOBAL HEADCOUNT BY ABOUT 12,000 POSITIONS, AFFECTING BOTH PROFESSIONAL AND PRODUCTION EMPLOYEES

* GE POWER - HEADCOUNT REDUCTIONS, ACTIONS TAKEN IN 2017, TO POSITION CO TO REACH TARGET OF $1 BILLION IN STRUCTURAL COST REDUCTIONS IN 2018

* GE POWER - “TRADITIONAL POWER MARKETS INCLUDING GAS AND COAL HAVE SOFTENED”

* GE POWER - PLANS ANNOUNCED ON THURSDAY DRIVEN BY CHALLENGES IN POWER MARKET WORLDWIDE; CO EXPECTS MARKET CHALLENGES TO CONTINUE Source text for Eikon: Further company coverage:

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