GE (GE) Slashes Workforce by 5.6 Percent in 2010

General Electric (NYSE:GE) cut its global workforce by 5.6 percent in 2010, dropping the overall number of employees overall to 287,000. Much of that was attributed to overseas businesses at its GE Capital division.

The number of U.S. employees dropped less than 1 percent to 133,000, according to the Fairfield, Connecticut-based company’s annual regulatory filing with the U.S. Securities and Exchange Commission.

Chief Executive Officer Jeffrey Immelt is shrinking the finance unit’s total contribution to GE profit and sales in part by shedding some consumer finance assets overseas while adding jobs via research and manufacturing projects in the U.S. GE last year drew 53 percent of its sales from outside the U.S., the company said today (Friday).




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