Dec. 7 (UPI) -- Energy conglomerate General Electric said Thursday it will eliminate 12,000 jobs from its Power division as part of a restructuring plan to cut costs by about $1 billion.
Officials said the cuts, about 18 percent of GE's total workforce, align with the company's broader effort to decrease costs by $3.5 billion this year and next -- and an aim to lower structural costs by hundreds of millions of dollars.