Schenectady remains key to GE amid investigations, job cuts
SCHENECTADY — Three years ago, General Electric Co.’s power plant equipment manufacturing division, GE Power, was reeling.
The Schenectady-based division’s CEO, Steve Bolze, had left the company in 2017 after being passed over to replace Jeff Immelt as CEO.
Bolze was replaced by Russell Stokes, a longtime GE executive based in Atlanta. Stokes inherited a GE Power division suffering amid a global glut of power plants, and had to oversee a massive $1 billion cost-cutting program that included eliminating 12,000 jobs worldwide.