GE to cut 1,100 UK jobs

Company blames fall in demand for new power stations and lack of investment for cost-cutting driveUS firm General Electric plans to cut 1,100 jobs from its UK power infrastructure business as part of a Europe-wide cost-cutting exercise, blaming a fall in demand for new power stations and dwindling investment by its clients.The job losses would affect staff in Rugby and Stafford, reducing GE’s 18,000-strong UK workforce by 6%. The company plans to cut 12,000 jobs globally. Continue reading.