GE Capital, GE Capital to cut 7,000 jobs this year

Manufacturing News, Source : TheManufacturer.com
Published : 16 Apr 2002 9:16
Free whitepapers: Achieve Lean Success | Supply Chain Solutions

GE Capital will cut 7,000 workers in the US and overseas this year out of a total staff of 90,000.

The company says the lay-offs are part of a long-term programme to improve productivity and rely as far as possible on technology.

No figures are available for the cost of the redundancies, or the savings expected.

GE spokesman John Oliver said the job cuts are "not concentrated by business segment, by business or by geography. It is not as though one city or one business is going to feel the direct impact of this," he said.

He said GE Capital would be ready to help the affected employees, but added that many of them are already highly qualified and likely to be sought after in the job market.

 

Comments on this story

click here to add a comment