GE's Power Division to Eliminate 12,000 Jobs After Misjudging Demand

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GE's Power Division to Eliminate 12,000 Jobs After Misjudging Demand
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GE's Power unit has been a major source of pain for the struggling company as global demand has dropped in tandem with GE integrating its acquisition of Alstom SA's power business. The company has said it misjudged the market as volume dropped in traditional coal and gas-fired power, while renewable energy sources grew.

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