GE Aviation eyeing more layoffs in wake of pandemic. Randy Tucker. Cincinnati Enquirer. John Slattery, president and CEO of GE Aviation. Evendale...
https://www.cincinnati.com/story/news/2020/11/25/ge-aviation-eyeing-more-layoffs-wake-pandemic/6425022002/
GE Aviation eyeing more layoffs in wake of pandemic
Evendale-based GE Aviation is eyeing more layoffs in the wake of the coronavirus pandemic, according to a recent report in the Wall Street Journal.
President and CEO John Slattery recently warned employees of more job cuts at General Electric Co.'s jet-engine unit in an internal video message, the Journal reported Tuesday.
Slattery told employees the pandemic's impact on commercial air travel continued to hurt business and that the company needed to shrink its workforce over the next year and half, the newspaper reported, citing people familiar with the matter.
The report didn't indicate how many of GE Aviation's approximately 10,000 local employees might be affected.
But the company already announced plans in May to cut 25% of its global workforce due to the pandemic.
In June, the company notified the state of Ohio that it planned to lay off 605 employees at its headquarters at 1 Neumann Way.
Perry Bradley, a spokesman for GE Aviation, told The Enquirer there was "nothing to dispute'' in the Journal story.
He noted industry analysts project global passenger demand for air travel to fall by 60% this year, resulting in industry losses of nearly $120 billion.
"As we continue to closely monitor market conditions, we are examining a range of options to appropriately scale our business to match the realities of the global airline industry recovery from the severe impacts of COVID-19. As always, we will communicate any business impacts to our employees first,'' GE Aviation said in a statement.