On Thursday, the 2nd of April 2020, the Boston, Massachusetts-based American multinational conglomerate that primarily focuses on a swathe of manufacturing activities ranging from aircraft engines to power grids to healthcare equipment, had issued a statement saying that the American multinational conglomerate incorporated in the New York City, would furlough more than 50 per cent workers from its US engine assembling and engine component manufacturing operations, joining a string of US manufacturing industry tycoons which had also adopted similar measures to insulate their coffers.
Besides, the GE move to put more than 50 per cent of its employees on a temporary leave, which would likely to affect household spending of its thousands of employees comes over the heels of an ISM factory data released yesterday (April 1st) that showed the US factory orders had tumbled to its lowest figure since the peak of great financial depression in October 2008.
Aside from that, adding that the furloughs would be taken place in addition to about 2,600 job slashes announced last month in General Electric’s aviation unit, which usually makes aircraft engines for Boeing Co.
and Airbus SE, two of the world’s largest low-cost aircraft manufacturers, a spokesman for General Electrics said in a statement on Thursday (April 2nd), “Due to the unprecedented impact of COVID-19 on the commercial aviation industry, GE aviation is implementing a temporary reduction...for up to four weeks. ”