General Electric Abandoning Wind Power With Latest Move?
Joseph Farago - Yesterday 1:36 PM
The multinational corporation General Electric is relinquishing some of its efforts to utilize wind power, shutting down 20% of the sector’s workforce. According to an anonymous source close to the company, hundreds of workers will be removed from onshore wind facilities. A note went out to employees working on General Electric’s wind unit regarding extensive layoffs.
A General Electric Renewable Energy spokesperson spoke to CNBC about the changes and the team’s new market direction. The spokesperson stated that the corporation is looking to “streamline” its onshore wind power extraction, wanting to position the sector for future success. The company wanted to ensure that the employees had nothing to do with the decision to lay off 20% of the workforce but that it was imperative to reduce the onshore sites for profitability.
Though the extended firings are restricted to US wind plants, General Electric is looking to consolidate its workforce in Europe and Asia, too. Many problems catalyzed the corporation’s recent employee decisions, mainly affected by supply chain interruptions and competition from other substantial energy companies. Inflated input costs for General Electric’s facilities have also burdened the company, which ultimately caused the workforce reduction measures.
https://www.msn.com/en-us/news/technology/general-electric-abandoning-wind-power-with-latest-move/ar-AA12IoOZ?ocid=msedgntp&cvid=bc2429e877d64919a425c77a0b1fb8b6
