General Electric will soon cut 12,000 jobs

(WJBF) – The problems continue for General Electric, (GE) as the troubled company looks to turn things around.

“The Company” announced Thursday that they will be cutting 12,000 jobs.

Those positions are in GE’s electrical power division, which producers’ giant turbines and generators.

The news comes weeks after the company said it would cut its stock dividend in half just the second such cut since the great depression.

GE is also looking to sell its light bulb and railroad units.

The company’s stock has lost 44 percent of its value in 2017.

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