A story in the Courier Journal says that GE Appliances, a company with headquarters in Louisville, plans to lay off 5% of its salaried workers in the next few weeks.
GE Appliances Looks to Cut Costs as Operating and Manufacturing Costs Rise
According to Julie Wood, a spokesperson for GE Appliances, there are a number of factors that are contributing to the rise in the costs of doing business. Because of this, the company is looking into different methods by which it can cut costs.
Manufacturing and operating costs have reached an all-time high, according to an email sent by Wood. He explained that this is due to double-digit increases in the cost of materials as well as a very messed-up supply chain.
Wood also said that GE Appliances has put money into new technology and products to keep the company competitive in the long run.
Wood has stated that those who are let go from the company will receive a notice period of thirty days, severance pay proportional to the number of years they were employed there, and continued health insurance coverage for a period of six months. They will also receive assistance from GE in their search for employment.
Wood described firing employees as a “last resort,” but the company had already exhausted all other options in an effort to stabilize its financial situation. Wood said that the decision won’t change how production workers do their jobs, but he didn’t say who might lose their jobs because of it.
Wood emphasized that the employees are highly valued and respected, despite the fact that they are being laid off, which has nothing to do with how well they performed their jobs.
“Business to invest $450 million and hire 1,000 workers in Louisville, Kentucky”
The business announced in October 2021 that it planned to make an investment of $450 million and hire 1,000 people by the end of 2023 at its location in Louisville, Kentucky, which is located at 4000 Buechel Bank Road.
Wood stated that GE Appliances “hires every month, continues to grow, and adds jobs in a tight labor market” in an August 2018 interview with The Courier Journalle, Kentucky, which is located at 4000 Buechel Bank Road.
Wood stated that GE Appliances “hires every month, continues to grow, and adds jobs in a tight labor market” in an August 2018 interview with The Courier Journal.
In addition to giving health benefits, the company has also switched to a three-day work week (Tuesday through Thursday).
As a result of the impending layoffs, employees will be terminated not only in Louisville but also in other parts of the world.
Wood said that by the beginning of the following week, he would have talked to each of the affected employees.
