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The move reflects the company's strategic restructuring efforts to regain competitiveness in delivering renewable energy profitably, following its $1.65 billion acquisition of LM Wind Power in 2017.

General Electric set to layoff 1,000 LM Wind Power employees

The move reflects the company's strategic restructuring efforts to regain competitiveness in delivering renewable energy profitably, following its $1.65 billion acquisition of LM Wind Power in 2017.

General Electric is set to lay off around 1,000 employees in its LM Wind Power division in the coming weeks. The company in internal communication in January informed the employees about its plan to become smaller, reported Money Control citing sources. The move could potentially also impact its Indian employees the report said.&nbsp;
LM Wind Power business CEO Olivier Fontan in an earlier mail told employees, &nbsp;&ldquo;As you are all aware, the wind industry is fighting a tough battle to continue to deliver competitive renewable energy in a profitable manner. Due to the market challenges, it is necessary for us to evolve our structure to regain our competitiveness."
In 2017, GE purchased LM Wind Power, headquartered in Denmark, for $1.65 billion. This company specializes in crafting rotor blades for wind turbines and operates under the umbrella of GE Vernova. But, now the company is struggling to deliver renewable energy profitably hence they have turned towards layoffs, reported Money Control. &ldquo;While we cannot share the details of the proposals at this stage, if implemented, these proposals could potentially have a net impact of approximately 1,000 role reductions globally, primarily in global functions,&rdquo; Olivier Fontan's January email said. Also Watch: <a href="https://www.editorji.com/business-news/personal-finance/banks-insurance-firms-to-remain-open-on-mar-30-31-here-s-all-you-need-to-know-about-what-s-operational-1711697013035">Banks, Insurance firms to remain open on Mar 30, 31. Here's all you need to know about what's operational</a>

Boom Unveils the Era of Supersonic Flight

The age of supersonic flights is inching closer to reality with advancements happening quite at the speed of the concept itself. In a boost to supersonic air travel, Boom Supersonic, the aerospace company building the world&rsquo;s fastest airliner, unveiled its supersonic demonstrator, XB-1 on October 7, 2020. For Boom Supersonic, planning a commercial airliner that can fly supersonic, the first independently developed supersonic aircraft, XB-1 demonstrator prototype will begin flight testing in 2021. This first independently developed supersonic aircraft ushers in new era of supersonic flight and include developing one of the highest-efficiency civil supersonic engine intakes ever tested. With the delta wing that balances low-speed stability at takeoff and landing with high-speed efficiency, the jet is propelled by three J85-15 engines that are designed by General Electric, and provide XB-1 more than 12,000 pounds of thrust, allowing it to fly at breakthrough supersonic speeds.

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