The post GE, Siemens, Utilities Take Hits From Coronavirus appeared first on POWER Magazine.

U.S. power plant operators continue to change procedures at their facilities, including pushing back scheduled maintenance, due to lockdowns and quarantines associated with the coronavirus pandemic. The changes are impacting companies such as General Electric (GE) and Siemens, which are major service providers to power plants, at a time when these global companies already are taking a revenue hit due to COVID-19.

Maintenance of power plant generation equipment is a major revenue source for Siemens, GE, and other equipment manufacturers. GE’s aviation unit earlier this month announced it would furlough half of the division’s engine manufacturing workers, idling thousands of staff for as much as four weeks. That announcement came a few weeks after the company said it would cut 10% of the workers in that unit, or about 2,600 jobs. The company’s aviation business is struggling as airlines worldwide reduce orders, with many airlines simply parking planes due to the global collapse in air travel.…

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