GE to suspend 50% of U.S. engine assembly, component manufacturing ops staff

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The furloughs will be in addition to the about 2,600 U.S. job cuts announced last month by GE’s aviation unit, which makes engines for Boeing Co (N:BA) and Airbus SE (PA:AIR) aircraft.

“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,” a company spokesperson said in a statement.

The unit employed about 52,000 people globally as of 2019.

GE’s shares fell as much as 3.1% in afternoon trading.

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