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To: 2MAR$ who wrote (68034)	8/16/2002 9:08:24 AM
From: 2MAR$	Respond to of 208838

GE <GE.N> aircraft unit to cut jobs - WSJ NEW YORK, Aug 16 (Reuters) - General Electric Co <GE.N> is preparing to cut jobs at its aircraft-engines unit amidst the current crisis in the aviation industry, according to a Dow Jones news story in Friday's Wall Street Journal. GE Aircraft Engines, the world's largest maker of jet engines, has sent a letter to employees saying job cuts are in the works, the report said citing company spokesman Rick Kennedy. General Electric could not be immediately reached for comment. GE managers are assessing their staffing needs for the next 16 months and will probably determine the size of the job cuts during the next few months, the report said. After delivering about 1,400 engines for large commercial airplanes last year, the business expects its engines deliveries to fall 15 percent to 20 percent this year, followed by a similar drop in 2003, Kennedy was quoted as saying. GE Aircraft Engines expects net income for the year to be about flat, from $670 million in 2001, Kennedy said. The company said it expects revenue to fall 8 percent for the year. ((Nick Olivari, New York newsdesk, 646-223-6000)) REUTERS * end of story *