GE Aviation Plans Deeper Cuts
General Electric (NYSE: GE) is planning deeper cuts to its aviation unit, a fresh reminder that despite progress toward a COVID-19 vaccine, the current commercial aerospace slump is likely to persist through 2021 and possibly beyond.
The conglomerate has already shed about 25% of GE Aviation's pre-pandemic 52,000-person workforce, but according to The Wall Street Journal, division chief John Slattery is warning employees that the business will have to shrink further over the next 18 months.
Image source: GE Aviation.
Source Fool.com
