General Electric

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
France, Switzerland
Sector
Manufacturing
(26 - 27) Manufacture of electrical, electronic and optical products
27.1 - Manufacture of electric motors, generators, transformers and electricity distribution and control apparatus
27.11 - Manufacture of electric motors, generators and transformers
1,225 jobs
Number of planned job losses
Job loss
Announcement Date
9 September 2020
Employment effect (start)
1 November 2020
Foreseen end date

Description

General Electric (GE) announced, before its European Works Council, its intention to restructure two divisions in Europe with an anticipated loss of 1,225 jobs.  The divisions affected are that of equipment for dams (hydro) and for electrical networks (grid), which currently "generate significant financial losses", according to management.  [753 job cuts are announced in France.] (https://apps.eurofound.europa.eu/restructuring-events/detail/101685). Part of the activities will be offshored to India and China. General Electric also announced it would close a Swiss site. GE Grid Solutions, a unit with 436 employees, will cease operations at its Oberentfelden site. 

A previous EU reorganisation was recorded on the ERM Database in January 2016 with 6,500 job cuts.

Sources

Citation

Eurofound (2020), General Electric, Internal restructuring in World, factsheet number 101794, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101794.