GE cuts aviation headcount by 10,000 

GE is cutting another 10,000 aviation jobs globally as it prepares for an extended slump in Q2 air traffic and likely production cuts by aircraft manufacturers that will last longer. The new permanent layoffs come on top of the 2,600 cuts GE Aviation made to its US headcount on March 23 and are expected to affect one quarter of its 52,000-strong workforce. They layoffs are part of plans to save $1billion of costs and preserve $2billion of cash which GE announced last week. “To protect our business, we have responded with difficult cost-cutting actions over the last two months. Unfortunately,