GE to close some plants in Brazil
Business Law
General Electric Co. said Thursday it will close a number of lighting plants in Brazil and the U.S. as part of a plan to restructure its consumer and industrial division, potentially cutting more than 1,400 jobs in the process.
GE Consumer & Industrial, based in Louisville, Ky., said it will close all of its lighting operations in Rio de Janeiro, which will affect about 900 jobs. The company also plans to close some lighting factories in the U.S., which will impact about 425 jobs. 'A portion' of the U.S. jobs will be transferred to other GE lighting facilities, the company added.
Another 80 jobs will be affected by a transfer of some operations from facilities in Mexico and the U.S. to other locations.
Fairfield, Conn.-based GE said it is closing the facilities, in part, because of a changing lighting market, in which demand for the incandescent bulb has declined over the past five years due to new technology and efficiency standards.
'It doesn't make sense for us to continue with an inefficient model,' said Jim Campbell, president and chief executive officer of GE Consumer & Industrial. 'The proposed plan would allow us to continue to reinvent our production model to use our global factory more efficiently and effectively.' The company can now purchase components at more competitive prices, making it more expensive to continue making the lighting-product components in-house, he said.
'The restructuring we are proposing, while very difficult due to the impact on employees, would be one of the most important things we've done in the 100-plus-year history of GE's lighting business,' Campbell said.
'We are increasing our focus on the development and production of new, innovative lighting products like LEDs, organic LEDs, our new high efficiency incandescent light bulbs and other products that our customers will increasingly demand and require,' he said.
GE previously laid off more than 3,000 workers in the consumer and industrial unit by closing facilities and transferring or selling operations in Europe, China, Indonesia, the U.S., Latin America, and India.
Related listings
-
Ford struggling to win back sales, share
Business Law 10/03/2007Ford Motor's biggest rival, General Motors, has a tentative contract deal with the United Automobile Workers union and relatively stable sales. Ford has neither. Sales at Ford fell 18.2 percent in September, closing out its 2007 model year on a disap...
-
Credit crisis strikes UBS, Citi, Credit Suisse
Business Law 10/01/2007[##_1L|1287098335.jpg|width="128" height="81" alt=""|_##]The credit crisis struck at the heart of the global financial industry on Monday as Swiss bank UBS AG said it faced a shock loss in the third quarter and Citigroup warned its profits had collap...
-
Qualcomm Hires Apple Lawyer; Apple Taps Oracle Lawyer
Business Law 09/28/2007[##_1L|1017122082.jpg|width="120" height="138" alt=""|_##]Qualcomm Inc., the second-biggest maker of chips that run mobile phones, named Apple Inc. general counsel Donald Rosenberg as its new top lawyer to help defend a series of patent and antitrust...
Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.