GE To Slash 1,000 Jobs At LM Wind Power
General Electric (GE) intends to slash 1,000 jobs at LM Wind Power, its renewable energy division, as reported by Moneycontrol, citing internal communications. Company insiders indicated that the downsizing could affect Indian staff members as well.
Talks of the layoffs began in January when Olivier Fontan, CEO of GE Renewable Energy's LM Wind Power business, informed employees about the company's plans to streamline operations in the coming months.
Fontan reportedly stated in an email, "As you are all aware, the wind industry is facing significant challenges to deliver competitive renewable energy profitably. Given the market conditions, it is imperative for us to restructure to regain our competitive edge."
According to the report, LM Wind Power will now prioritise external customers only, impacting employees in India as well.
"While we are unable to disclose the specifics of the proposals at this stage, if implemented, these measures could potentially result in approximately 1,000 job cuts globally, mainly in global functions," Fontan's email from January mentioned.
GE operates in various countries including Denmark, Spain, Poland, Canada, China, India, Brazil, and the United States. Its presence in India dates back to 2007, employing over 200 engineers in the country.
