Electric services company GE Vernova Inc. will reduce its European workforce by 600 positions, according to French labor unions. Of these, 120 jobs are expected to be cut in France.
In response, GE Vernova said it “continuously reviews its operations to ensure the company is best positioned to maintain its growth and continue to meet customer expectations,” but did not confirm the figures.
The company recently reported an 11% year-on-year rise in second-quarter revenue, though it posted a net loss of $788 million. Orders grew 4% organically to $12.4 billion.
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GE Vernova