NEW YORK -- General Electric Co said Friday its GE Capital unit is cutting jobs as part of an effort to save about US$2-billion this year, but declined comment on a report that as many as 11,000 positions would be eliminated.
"We are doing some layoffs within GE Capital," spokesman Russell Wilkerson said, but he added neither GE corporate nor the capital unit would comment on the total number of people affected. "We leave that to the business leader to communicate that."
Earlier, CNBC television reported GE Capital would cut between 7,000 and 11,000 jobs, or as much as 15% of the unit's total workforce.
Last month at an analysts' meeting, GE Capital signaled that big cuts were coming, including "reorganizing the business to reduce costs and allocate capital more efficiently."
"We are doing some layoffs within GE Capital," spokesman Russell Wilkerson said, but he added neither GE corporate nor the capital unit would comment on the total number of people affected. "We leave that to the business leader to communicate that."
Earlier, CNBC television reported GE Capital would cut between 7,000 and 11,000 jobs, or as much as 15% of the unit's total workforce.
Last month at an analysts' meeting, GE Capital signaled that big cuts were coming, including "reorganizing the business to reduce costs and allocate capital more efficiently."
