GE Plans to Hire 5,000 Veterans

By: EW News Desk Team   Date: 14 February 2012

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EW News Desk Team

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14 February 2012

One of the biggest conglomerates in the United States, General Electric, has announced plans to hire 5,000 veterans over the next five years. As part of the plan, the company will also partner with the United States Chamber of Commerce to sponsor over 400 job fairs in 2012 for veterans as part of the ‘Hiring our Heroes’ initiative.

General Electric CEO Jeffery Immelt, who is also the head of President Barack Obama’s 27-member jobs council, made the announcements as part of a four-day conference on topics such as manufacturing and job creation in America.

In addition, the company plans to expand its aviation business in the United States by adding more than 400 new manufacturing jobs, and to pursue construction and rebuilding plans that is set to create more than 12,000 new jobs. Over the next five years, GE plans to invest almost $580 million in its aviation expansion.

Related News: Bankrupt American Airlines To Trim 13,000 Jobs

To boost its head count, GE expects to double its number of engineer interns to almost 5,000. According to a GE report, 80 percent of its 19,000 engineering staff was hired from the company’s internship program.

Immelt said:

We should have the confidence to act and restore American competitiveness. American business can compete and win anywhere.

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GE’s announcement comes at a time when the United States is still struggling to recover from the 2007/08 recession. While unemployment has since improved from its double-digit highs – reaching a three year low of 8.3 percent in January – almost 24 million Americans remain out of productive employment.

Related News: High Unemployment Rates Among US War Veterans

GE currently employs more than 10,000 veterans, and has another 100 United States employee reservists serving abroad.

As part of America’s 2013 fiscal plan, Obama plans to increase federal resources to promote business investments in the United States. At the same time, Obama plans to introduce new tax incentives for companies that bring jobs back to America.

Related News: Obama To Unveil Budget Plans: $901B Deficit and Tax Hike in Store

Related News: China's Currency Manipulation Has Cost 160,000 American Jobs

Related Story: A Decade of Hurt – The Economic Legacy of 9/11: Joseph Stiglitz


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