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.

ADVERTISEMENT

Industries lose billions on counterfeit products Analysis

Industries lose billions on counterfeit products

Parl't to vote on groundwork for commercial accommodation ra... Parliament

Parl't to vote on groundwork for commercial accommodation ra...

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest re-launches airport shuttle bus City

Budapest re-launches airport shuttle bus

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.