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. ย ย ย
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. ย
Inflation and labor shortages have been adding to the onshore wind unitโs struggles this year.ย ย ย
A GE spokesperson said in a statement, โThese are difficult decisions, which do not reflect on our employeesโ dedication and hard work but are needed to ensure the business can compete and improve profitability over time.โย ย
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.ย
