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GE - General Electric to Furlough 50% of Aircraft Engine Workers
General Electric Company
General Electric (NYSE: GE) reportedly plans to furlough about half of the workers in its massive aircraft-engine manufacturing unit for up to four weeks, the latest in a number of similar cost-cutting actions by companies with exposure to commercial aerospace trying to adjust to rapidly falling demand.
On March 23, GE said it would cut its overall aviation workforce by about 10%, in response to the pandemic-generated slump in travel that has led airlines to cut flights, ground aircraft, and postpone purchases.