GE restructuring ahead, with potential layoffs

History

General Electric Current, GE’s energy startup, is launching negotiations with Hungarian workersʼ unions and representatives on restructuring operations in Hungary, the company confirmed in a press statement issued late Thursday. Conflicting reports meanwhile emerged about the potential for layoffs.

A few hours earlier, Hungary’s Cabinet Chief János Lázár confirmed press reports suggesting that General Electric would lay off 300 staff in Hungary, according to Hungarian news agency MTI.

During his regular weekly press conference, Lázár said that, as GE is a strategic partner of the Hungarian government, the giant had informed the government in advance about laying off 300 workers in Hungary. Lázár said the government is ready to offer assistance to workers losing their jobs, helping them find employment through government employment offices, MTI reported. 

The minister spoke about the issue after Hungarian news portal index.hu reported that GE Current, part of GE Lighting focusing on research and development of LED lights and lighting control systems, would lay off 300 workers from its base in Hungary.

However, GE said in a press statement after the reports that it is planning some restructuring and will be negotiating with related workersʼ unions and representatives. GE said that a more focused commercial strategy will be placed in the center, but stressed that no decisions have yet been made.

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