GE Cuts 10% of Aviation Jobs in Sign of Virus’s Deepening Impact
- Reduction indicates loss of 2,600 positions in jet-engine unit
- CEO says ‘painful’ steps needed as outbreak batters airlines
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General Electric Co.’s aviation division will cut 10% of its U.S. workforce as the coronavirus outbreak saps demand for air travel and upends the global economy.
The maker of jet engines also plans to reduce some executive compensation and furlough half its domestic maintenance, repair and overhaul employees for 90 days. The moves are designed to save $500 million to $1 billion this year, Chief Executive Officer Larry Culp said in a statement Monday.