GE sale to affect half of Hungarian staff, wire says
General Electric (GE) has started talks on the sale of its lighting business, GE told Hungarian news agency MTI today, confirming earlier reports. The sale will affect a large part of the companyʼs plants in Hungary and about half of local workers, GE said.
MTI reported that GE Lighting Chairman-CEO Bill Lacey recently informed staff in Hungary in a letter that official talks had started on selling the business, which could be split up for the sale.
Kinga Kalocsai, GE Lighting and Currentʼs communications director for the region, said GE plans to sell the business “to optimize its portfolio and focus on its key digital industry activities.”
GE announced in an internal e-mail late last week that it planned to sell its lighting business, according to reports by local news sources in Cleveland, where GE Lighting has its corporate headquarters.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.