General Electric is to shed more than 1,000 UK jobs from its power division, as part of swingeing cuts worldwide.
GE Power says it will reduce its global workforce by 12,000 – equivalent to nearly one in five posts internationally.
The news will affect 65 UK sites including those in Rugby and Stafford. Division chief executive Russell Stokes said the decision followed a drop in demand for fossil fuel power plants.
With an estimated 18,000 UK employees, the job cuts represent almost 6% of the British total. Elsewhere, in Europe there are notable losses. These include Switzerland and Germany, where around 30% and 15% of the local workforce respectively will go.
General Electric group UK and Ireland chief executive Mark Elborne insisted that the company was committed to retaining its leading industrial role in the region.
The power division remains a key business for General Electric. New CEO John Flannery who took over in the summer from predecessor Jeff Immelt has signalled his intention to focus operations on power and two other core markets, aviation and healthcare.
The company is also divesting some holdings in lighting, electrical grid and its near-two thirds stake in Baker Hughes’ oilfield services.