UP govt to rope in Amazon, Wipro, GE at 'One District, One Product' summit

To give a major push to Uttar Pradesh's micro, small and medium enterprises (MSME) and cottage industries, the Yogi Adityanath government will exchange memorandums of understanding (MoUs) with top companies such as Amazon, Wipro and GE on Friday.

President Ram Nath Kovind will inaugurate the state's flagship 'One District, One Product' summit aimed at showcasing its traditional cottage industries and crafts.

On the occasion, the government will exchange MoUs with e-commerce major Amazon, Wipro, GE Healthcare, Quality Circle of India (QCI) and India's leading bourses -- the BSE and National Stock Exchange (NSE). These entities would help the MSMEs and cottage industries by providing training, branding, marketing and other institutional support.

For example, Amazon will extend marketing support to traditional industries in 9 districts, including Gorakhpur, Agra, Meerut, Varanasi, Kanpur and Aligarh. The company will showcase local products over its online marketplace and create a micro-site dedicated to the ODOP scheme.

General Electric to cut 4,500 jobs in Europe: Source

General Electric Co plans to cut 4,500 jobs in Europe, the first numbers to emerge on layoffs from the US industrial conglomerate since it outlined plans to restructure and shed units last month.

The cuts, which are linked to businesses GE bought from France's Alstom in 2015, will affect employees in Switzerland, Germany and Britain, said French newspaper Les Echos, which first reported the news on Tuesday.

A labor union source confirmed the layoff numbers to Reuters on Wednesday and said an official announcement was expected as early as Thursday.

GE did not confirm the numbers but said it was "reviewing its operations to ensure the business is best positioned to respond to our market realities and for long-term success." The company had presented a proposal to the European body representing legacy Alstom employees, it added.

Last month, General Electric CEO John Flannery outlined plans to reduce the manufacturing footprint of GE's power business to respond to a sharp fall in demand for fossil fuel power equipment. GE did not specify how many jobs would be cut or where.
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