The Limited Times

Now you can see non-English news...

General Electric: restructuring in onshore wind power, up to 570 jobs cut in Europe

2022-10-18T14:44:09.830Z


Announced two weeks ago, this plan aims to rationalize the activity according to the realities of the market.


The American conglomerate General Electric (GE) presented on Tuesday a plan to restructure its activity in onshore wind power in Europe, which could eliminate "

around 570 jobs

", according to a letter sent to employees by the management of the Onshore Wind unit. .

This plan, justified in particular by losses suffered since 2021, was presented to the European employee representative bodies.

"

These proposals could potentially affect approximately 570 positions in all functions and in several countries in Europe

", announces in this letter GE, present in this sector especially in Germany as well as in France and Spain.

"

Over the past few years, GE's onshore wind business in Europe has faced significant volatility and challenges

," said the group in its letter signed by Vic Abate and Sheri Hickock, CEOs of Onshore Wind, the branch dedicated to onshore wind power.

Read alsoPatrice Cahart: “The proliferation of wind turbines, the next disaster after the nuclear fiasco”

Our European business recorded significant losses in 2021 and continues to be unprofitable in 2022

,” they add, saying the “

business outlook remains challenging

” and that “

the current approach in Europe (was not ) not sustainable

”.

This restructuring only concerns the onshore wind branch of GE, while the offshore branch (marine) is doing quite well.

1.7 billion profit in the second quarter

Announced two weeks ago

”, this plan “

aims to rationalize the activity according to the realities of the market

”, reacted a spokesperson for GE contacted by AFP.

It “

does not reflect the dedication and hard work of our employees in the region

,” he said.

The American conglomerate, active in the aviation, health and energy sectors, did better in the second quarter of 2022 than Wall Street had expected, with a turnover of 18.6 billion euros. dollars (+2% compared to the second quarter of 2021) and a profit of 1.7 billion dollars (+45%).

Read alsoThe prefects put under pressure by the government to develop wind power

In the second quarter, the group benefited from the good health of its aeronautics activities – an industry for which it manufactures and supplies aircraft engines – but its sales for renewable energies fell by 23%, to $3.1 billion.

In total, GE's renewable energy activities employ 38,000 people worldwide.

In his Belfort speech on France's energy policy last February, Emmanuel Macron called for the

"reasonable"

development of onshore wind power.

Source: lefigaro

All business articles on 2022-10-18

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.