General Electric (GE) is reportedly cutting 12,000 jobs in its power division.
"I think that they're trying to get ahead of what is a secular decline in the power industry," said TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer.
Want more exclusive investing insight from Jim Cramer? Get 24/7 access to Jim's charitable trust portfolio with a free trial to Action Alerts PLUS!
Watch all of Jim Cramer's latest videos, right here:
- Video: Jim Cramer on Bitcoin: Where Are the Sellers?
- Video: Jim Cramer Reacts to Disney CEO Bob Iger's Future