GE Layoffs: Company To Cut 1,000 Jobs In LM Wind Power; Indian Employees May Be Affected

GE layoffs: The company has been operational in India since 2007. With over 200 engineers employed in the country, the potential impact of the layoffs extends to its Indian workforce

General Electric (GE) is slated to cut 1,000 jobs in LM Wind Power, as reported by Moneycontrol, referencing an internal communication. The move, aimed at restructuring its renewable energy business by GE, set to commence in the forthcoming weeks. It has been on the horizon since January, with talks initiated by Olivier Fontan, CEO of GE Renewable Energy's LM Wind Power division, expressing intentions to streamline operations.

What the CEO says

Fontan said the challenging landscape faced by the wind industry. He outlined the necessity to adapt structures for sustained competitiveness. "Due to the market challenges, it is necessary for us to evolve our structure to regain our competitiveness," Fontan stated in an email as per the report.

The acquisition of Denmark-based LM Wind Power by GE in 2017 for $1.65 billion marked a significant investment in the renewable energy sector. Specialising in the manufacturing of rotor blades for wind turbines, LM Wind Power operates as part of GE Vernova.

Impacting Indian staff

Moreover, the restructuring will also impact employees in India, with LM Wind Power pivoting its focus solely towards external clientele. Fontan's email from January hinted at the global scale of the impending job cuts, citing potential role reductions across various functions.

GE, a multinational conglomerate with operations spanning across several countries, including Denmark, Spain, Poland, Canada, China, India, Brazil, and the US. The firm has been operational in India since 2007. With over 200 engineers employed in the country, the potential impact of the layoffs extends to its Indian workforce.

As the company navigates through the restructuring process, a company-wide email on March 26 indicated a commitment to engage with employee representatives at local levels, signaling forthcoming communications regarding potentially affected roles on a global scale.