If only some people would stop talking about the bad economy, banks and business wouldn't be cutting jobs. It's a mental recession and has nothing to do with the real world so turn that frown upside down and watch the jobs come rolling in.
General Electric's GE Capital unit will cut between 7,000 and 11,000 jobs, sources told CNBC.
GE Capital employs 75,000 and has said it would reduce costs in the unit by $2 billion in 2009. A company spokesman said headcount reductions were expected as part of the cost cuts but didn't elaborate on a number.
The spokesman said the financial services unit is strategically reshaping itself to become smaller and more focused.
