General Electric Co. is laying off workers at its onshore wind turbine manufacturing business in order to counter mounting losses. Operating losses for the broader unit totaled $853 million in the first six months of the year.
The company will reduce its US onshore wind workforce by 20%, and cuts are also planned in Europe and Asia, an inside source told Bloomberg.
Inflation and labor shortages have been adding to the onshore wind unit’s struggles this year.
A GE spokesperson said in a statement, “These are difficult decisions, which do not reflect on our employees’ dedication and hard work but are needed to ensure the business can compete and improve profitability over time.”
Other similar companies are also struggling to turn a profit despite growing demand for clean energy; last week, Siemens Gamesa Renewable Energy SA said it planned to eliminate 2,900 jobs following a run of losses.
