General Electric cuts 12,000 jobs, blames lagging coal demand

[Windparadox]

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General Electric Co. announced Thursday that it will cut 12,000 jobs from power division amid a global softening of electricity demand and the switch from coal and other fossil fuels.

"The plans announced today are driven by challenges in the power market worldwide," the manufacturing giant said. "Traditional power markets including gas and coal have softened. Volumes are down significantly in products and services driven by overcapacity, lower utilization, fewer outages, an increase in steam plant retirements, and overall growth in renewables."

The company said Thursday that the cuts will "right-size" GE Power amid the transition taking place in the power markets. The job cuts will save the company $1 billion, it said. - Source​

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The market for coal is weak. Industry is retooling themselves on renewable energy.

 

[BULLDOG]

That wording should be changed to "Due to increased demand for lower cost gas"

 

[DGS49]

The WORLD demand for coal is quite high and increasing for as far as the eye can see. China is planning or building 600 new coal-fired power plants around the world RIGHT NOW, according to the New York Times.

Power plants are exceptionally amenable to automation, as most processes can be managed from a single control room by a couple of operators. High reliability of equipment also reduces the need for maintainers and repair personnel.

Coal plants are being retired as they wear out, and are replaced by cheaper and cleaner natural gas, with the newer plants being less labor intensive.

"Renewables" are little more than a pimple on the ass of the energy industry, and will remain so for the foreseeable future. The sun don't always shine, and the wind don't blow at night, generally speaking.

And mindless Lefties have apparently succeeded in frightening the world's population about the best, safest, and most efficacious source of power, NUCLEAR.

 

[ABikerSailor]

If the demand for coal world wide is dropping like the OP's article suggests, how the hell is Trump going to bring back coal jobs?

 

[Penelope]

Love it, shows Trump was full of hot air. Lot of good the tax cut is going to do. they cut funds for renewables.
The cons and Trump live in an alternate universe.

 

[anotherlife]

The WORLD demand for coal is quite high and increasing for as far as the eye can see. China is planning or building 600 new coal-fired power plants around the world RIGHT NOW, according to the New York Times.

Power plants are exceptionally amenable to automation, as most processes can be managed from a single control room by a couple of operators. High reliability of equipment also reduces the need for maintainers and repair personnel.

Coal plants are being retired as they wear out, and are replaced by cheaper and cleaner natural gas, with the newer plants being less labor intensive.

"Renewables" are little more than a pimple on the ass of the energy industry, and will remain so for the foreseeable future. The sun don't always shine, and the wind don't blow at night, generally speaking.

And mindless Lefties have apparently succeeded in frightening the world's population about the best, safest, and most efficacious source of power, NUCLEAR.

I thought nuclear was bad, because demented legislation prevents them to use more than 20 %(?) of their fuel supply, or they are in violation of bomb making material restrictions. So, with nuclear, the world must store huge quantities of half used radioactive materials. That's bad indeed.

 

[Windparadox]

Love it, shows Trump was full of hot air. Lot of good the tax cut is going to do. they cut funds for renewables.
The cons and Trump live in an alternate universe.

`
While I am sadden by the loss of these jobs, coal burning technology (which is what GE used to produce) is no longer in demand. It is not a growth market. As the US market moves away from coal, other ancillary coal related industries will also fold.

 

[DGS49]

Anotherlife, I think you have your facts confused. Fresh nuclear fuel is about 5% u238, while weapons - grade material is 95% or more. Spent fuel CAN be reprocessed and re-used, but we don't do it, for political reasons.

The storage problem is largely solved, but for a colossal Fuck - up at WIPP. Again, political B.S. prevents "us" From moving the spent fuel to New Mexico, where it could be safely stored.

 

[gipper]

Love it, shows Trump was full of hot air. Lot of good the tax cut is going to do. they cut funds for renewables.
The cons and Trump live in an alternate universe.

`
While I am sadden by the loss of these jobs, coal burning technology (which is what GE used to produce) is no longer in demand. It is not a growth market. As the US market moves away from coal, other ancillary coal related industries will also fold.

Why doesn't GE move these people to their many war making operations. As a leading 'defense' contractor, they must have a need for employees in that unit of the company...and since the ruling is intent on war making, they have a great need.

 

[Manonthestreet]

Wasn't GE CEO on some sort of Obama jobs commission......looks like he sold is employees out to him.....they are so in trouble they are giving away their LED lights ....scored an 8 pack for 2 bucks

 

[Windparadox]

Why doesn't GE move these people to their many war making operations. As a leading 'defense' contractor, they must have a need for employees in that unit of the company...and since the ruling is intent on war making, they have a great need.

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I only know what the article says.

 

[Muhammed]

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The market for coal is weak. Industry is retooling themselves on renewable energy.

We export a lot of fucking coal, jackass.