GE to Cut About 1,200 Jobs

General Electric Co. said it will cut about 1,200 jobs in a restructuring of its GE Power Systems subsidiary, which makes turbines and other power plant equipment. The cuts, which amount to 5% of the unit’s work force, are expected to take place early next year. As part of the downsizing effort, GE plans to outsource the manufacturing of steam turbine parts from its Schenectady, N.Y., plant, move its Schenectady-based sales and services operations to Atlanta and close a steam turbine factory in Fitchburg, Mass. “We’re taking a look at our business long-term and positioning ourselves for continued strength,” company spokesman Jeff Ignaszak said. “The market is extremely competitive.” Based in Fairfield, Conn., GE employs 276,000 people in businesses ranging from appliances to aircraft engines to the NBC television network. GE shares rose 69 cents to close at $77.25 on the NYSE.