New York (CNN Business) General Electric revealed plans on Tuesday to slash up to 1,044 jobs in France in a bid to halt the downward spiral of the conglomerate's power business.

GE's GE The planned job cuts, which face stuff opposition from union leaders and politicians in France, would mostly impact workers atgas power business located in Belfort, France.

The belt-tightening highlights the intense pressure facing fossil fuels from the rise of renewables like solar and wind . GE Power, which makes turbines and systems for gas and coal-fired power plants, suffered a 71% plunge in first-quarter profit due to tumbling orders.

GE was blindsided by the speed of the clean energy revolution, leaving the company with excess capacity for natural gas turbines. Now, GE is racing to stop the bleeding by rapidly shrinking its power footprint.

In a statement, GE said the job cuts are part of the company's goal to "regain sustainable competitiveness" by improving operational and financial performance of its gas business and simplifying the organization.

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