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GE’s Power Division to Eliminate 12,000 Jobs After Misjudging Demand

December 8, 2017 12:11 AM
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About half of cuts will come in Europe, where unit has factories in France, Germany and Switzerland

General Electric Co. said Thursday it was cutting 12,000 jobs in its power business, or nearly 18% of the unit’s workforce, as the conglomerate slashes costs and battles overcapacity in an industry in upheaval.

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