GE Consumer & Industrial to cut 450 salaried positions - Business First of Louisville:

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Of those, about 200 are vacant positions that will not be About 140 positions will be eliminated throughg retirements and earlyretirement offers. The remaining 110 will be cut by said GEConsumer & Industrial publiv relations manager Kim Freeman. The positions will come from GE Consumer Industrial operations throughout theUnited States. Freeman said she was uncertaihn how many jobs were being eliminated in The division employsabout 62,000 people, of which an estimated 5,000 work in Louisville.
The announcementt came days after the GEConsumer & Industrialo officials announced their intent to outsource security eliminating 18 hourly positions and savin the company $1 million annually. All of the stafrf reductions are being made toreducw redundancies, streamline operations and save the company Freeman said. "When you're talkinyg about a plant thatloses $24 milliom a year, a million dolla savings can help," Freeman Fairfield, Conn.-based GE (NYSE: GE) announcef on April 11 that its first-quarteer net income fell to $4.3 billion, or 43 cents per share, from $4.6 billion, or 44 centas per share, a year Revenue increased to $42.2 billionj from $39.2 billion.
GE Consumer & Industrial's firsy quarter profit declined 34 percentto $147 millionj from $224 million a year The unit's revenue dipped to $3.03w billion from $3.07 billion. Freeman attributed GE Consumedr & Industrial's struggles to slow home salezs and newhousing starts, the economidc slowdown across the United Statew and an increase in the price of the raw material s used in the production of appliances, lightin g and industrial electrical equipment the business unit