GE has nearly halved its U.S. workforce in 3 years, with more job cuts likely

General Electric Co. stock is certainly in recovery mode, as it has more than doubled off its 2020 lows, but part of those gains have come at the expense of the industrial conglomerate’s workforce.

In a 10-K filing with the Securities and Exchange Commission on Friday, GE GE, +2.36% said it employed a total of about 174,000 people globally at the end of 2020, down 15.1% from the 250,000 employed at the end of 2019, as the COVID-19 pandemic wreaked havoc on the company’s businesses.