A person familiar with the matter who did not want to be named said hundreds of jobs are at stake.
Employees received a note Wednesday.
To position ourselves for future success, we are streamlining our wind business. These are difficult decisions, which do not reflect on our employees dedication and hard work, but are necessary to ensure the business can compete and improve profitability over time.
GE is looking at its wind footprint in Europe and Asia, according to reports.
There are a number of challenges facing GE's renewable energy business. It has been difficult to make wind energy a cost-effective option because of the energy shortages. The recently passed Inflation Reduction Act restores a tax credit for wind, but some believe it was too late.
According to an analysis by Melius Research, GE's renewables segment is going to bring in between 15 billion and 16 billion dollars in revenue this year, and 70% of that will be spent on wind.
There is a lot of pressure to get the renewables business in a better place before it splits. Even in a "hot" space like renewable energy, shareholder interest would be very low.
General Electric is going to split into three publicly traded companies focused on health care, energy and aerospace.
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