GE sale to affect half of Hungarian staff, wire says

Competition

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.

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