GE cutting jobs in oil industry unit

General Electric is cutting jobs at its GE Oil & Gas division, in response to plunging oil prices that resulted in a 6 percent drop in revenue at the unit denting GE's overall growth in the fourth quarter and for 2014. General Electric is based in Fairfield, with its GE Capital division having its headquarters in Norwalk, which has major offices in Stamford and Danbury.

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