U.S. Markets open in 6 hrs 48 mins

GE cuts 12,000 jobs in response to falling demand for fossil fuel energy

Karen Hao
GE cuts 12,000 jobs in response to falling demand for fossil fuel energy

As renewable energy prices have plummeted, there’s been an accompanying drop in demand for fossil fuel energy. The market shifts have taken a toll on the world’s largest maker of gas turbines, General Electric, which today (Dec. 7) announced plans to cut 12,000 jobs. Those cuts will mostly come from GE’s power division, which makes…