Unfortunately, a Kentucky manufacturing company has announced devastating layoffs; however, the exact number of employees impacted is yet unknown.
With headquarters in Louisville, Kentucky, GE Appliances informed its salaried worldwide workforce of layoffs effective Thursday.
There are over 2,700 salaried positions at GE Appliance Park in Louisville, the city where the company is based.
The worldwide layoffs were verified by Julie Wood, a representative from GE Appliances, who talked with The Courier-Journal.
Wood expressed disappointment that the measures adopted to save costs were insufficient to alleviate the demands.
“Following consideration of all options, we have decided to cut our global salaried workforce by 4%.”
Overall, the appliance business has been declining, according to Wood, who attributed it to customer difficulties.
Demand for appliances has dropped, according to the company. High interest rates are making it hard for some people to enter the home market, and inflation is making people careful with big expenditures.
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The “last thing we want to do” was layoffs, according to Wood, who also revealed that the business had sought to reduce operational expenses by cutting back on discretionary spending and increasing process efficiency.
Wood assured workers that the firm will “support our employees through this transition” even though layoffs were announced earlier today.
A “30-day notice of separation, plus up to six months of severance dependent on years of employment, continued medical coverage for six months, and professional outplacement support” will be provided to employees who have lost their positions.
As previously reported by The Courier-Journal, GE Appliances saw a 5% reduction in its global staff in 2022, and these layoffs are the second instance of such a reduction in the past two years.
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