FAIRFIELD, Conn. (AP) – General Electric Co. says its troubled finance business has informed employees of layoffs.

GE Spokesman Russell Wilkerson says GE Capital is informing workers of the job cuts. He would not say how many employees of GE Capital will lose their jobs. GE Capital employs 75,000 workers.

The Fairfield, Conn.-based conglomerate manufactures locomotives, water treatment plants and numerous other industrial products and owns NBC Universal.

GE said in November it would reorganize its GE Capital unit to save $2 billion next year. The move was intended to include job cuts as the business restructures and shrinks the size of the lending arm battered by the credit crisis.

AP-ES-01-16-09 1517EST


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