General Electric is laying off staff at its onshore wind power unit as part of a restructuring that came in response to the underperformance of the business. The company will reportedly cut its U.S. onshore wind workforce by 20 percent. According to a Reuters report citing unnamed sources familiar with the situation, GE’s onshore wind power business has been troubled by rising raw materials costs, weakening demand, and supply chain snags. The weaker demand came in response to the expiry of renewable power tax credits that made wind and solar…
