GE Will Delay Spin-Off

by Gabe Bullard on December 16, 2008

General Electric has delayed the sale or spin-off of its Consumer and Industrial Division, part of which is based in Louisville, at Appliance Park.

Earlier this summer, GE announced plans to drop the division. But spokesperson Kim Freeman says that’s changed due to the economy.

“The two main options that were being considered was either a spin-off of the entire Consumer-Industrial business or a sale of the appliances business. Those options have been suspended temporarily.”

Freeman says the jobs will remain in place while GE delays the sale, but layoffs will be made in response to the economic downturn. G-E has about five-thousand employees at Appliance Park  Mayor Jerry Abramson announced that he would offer incentives to the park’s new management to keep those jobs in the city.

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