JohnnyBz00LS
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http://www.wane.com/Global/story.asp?S=2568478&nav=0RYnT9M8
(Fort Wayne-WANE, November 15, 2004) - General Electric has announced plans to cut 197 jobs at its Fort Wayne operations.
71 of the workers being let go are employed at the GE Wire Mill plant. GE says it's going to transfer the work done at that facility to an external supplier. The company has sold some of its motors divisions, causing production volume at the Wire Mill plant to be reduced by 60 percent. According to General Manager Charles Abounader, "With the loss of nearly two-thirds of the Wire Mill volume, it will be most cost effective for us to purchase magnet wire versus making it ourselves."
In addition, 126 workers employed at GE's Specialty Transformer Operation in Fort Wayne are losing their jobs. GE is transferring the operations to a company production facility in Nogales, Mexico. The company says business has been deteriorating over the past several years because of declining prices and growing production costs in Fort Wayne.
The two job cuts must still be discussed with union officials representing affected Fort Wayne workers. GE expects the job cuts to begin in mid 2005 with completion expected by late 2006. The company estimates about 50 percent of the impacted employees are eligible for one of GE's retirement options. Union officials with IUE Local 901 told NewsChannel 15 they are not yet ready to comment on GE's announcement.
GE also announced the signing of an agreement for Regal-Beloit Corporation to acquire its Heating, Ventilation & Air Conditioning/Refrigeration Motor and Capacitor operation. The transaction is expected to close by the end of this year. About 74 workers at that facility are expected to transfer to Regal-Beloit once the sale becomes final. Regal-Beloit is expected to keep the headquarters of this business in Fort Wayne.
This hits close to home, as I personally know a handful of those people losing their jobs.
(Fort Wayne-WANE, November 15, 2004) - General Electric has announced plans to cut 197 jobs at its Fort Wayne operations.
71 of the workers being let go are employed at the GE Wire Mill plant. GE says it's going to transfer the work done at that facility to an external supplier. The company has sold some of its motors divisions, causing production volume at the Wire Mill plant to be reduced by 60 percent. According to General Manager Charles Abounader, "With the loss of nearly two-thirds of the Wire Mill volume, it will be most cost effective for us to purchase magnet wire versus making it ourselves."
In addition, 126 workers employed at GE's Specialty Transformer Operation in Fort Wayne are losing their jobs. GE is transferring the operations to a company production facility in Nogales, Mexico. The company says business has been deteriorating over the past several years because of declining prices and growing production costs in Fort Wayne.
The two job cuts must still be discussed with union officials representing affected Fort Wayne workers. GE expects the job cuts to begin in mid 2005 with completion expected by late 2006. The company estimates about 50 percent of the impacted employees are eligible for one of GE's retirement options. Union officials with IUE Local 901 told NewsChannel 15 they are not yet ready to comment on GE's announcement.
GE also announced the signing of an agreement for Regal-Beloit Corporation to acquire its Heating, Ventilation & Air Conditioning/Refrigeration Motor and Capacitor operation. The transaction is expected to close by the end of this year. About 74 workers at that facility are expected to transfer to Regal-Beloit once the sale becomes final. Regal-Beloit is expected to keep the headquarters of this business in Fort Wayne.
This hits close to home, as I personally know a handful of those people losing their jobs.