December 11th, 2009
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General Electric, unions reach agreement on severance pay for laid-off employees

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General Electric (GE) has reached an agreement with unions on severance pay and support services for staff laid off because of a restructuring at its lighting division in Hungary, GE told MTI on Thursday.

The agreement is valid for two years.

GE said it will lay off a combined 2,570 staff at its lighting division in 2010 and 2011, including 1,235 in 2010. The division is phasing out production of low-efficiency light bulbs to comply with a European Union directive.

GE said it will close its lighting plant in Vac, near Budapest, in 2011.

GE said earlier the layoffs would affect the plant in Nagykanizsa (SW Hungary) the most. There 1,300 people will be let go at the lighting plant and another 128 at GE’s industrial screen plant.

GE employs 14,000 people in Hungary including 7,500 at its lighting division.

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  1. Benny the dwarf says:
    December 11, 2009 at 4:21 pm

    Dear Ed, couldn’t you have used the headline “Lights
    out at GE”?