UK GE asset finance professionals are set to hear about their futures in July, according to a UK recruiter.
In April, the American giant announced it would sell banking and finance arm GE Capital, including its asset finance and leasing unit.
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Oakland Partnership managing director Tom White said in an interview with Leasing Life that GE staff had been trying to anticipate a next move.
"When the announcement was made we had [up to] twenty calls from people looking to explore what the market had to offer," said White, whose new business growth has doubled in the last year.
"What we’ve been told now by some candidates is GE has said they will make… a formal announcement as to who is affected and who is not by July."
A spokeswoman from GE’s New York office would not confirm or deny the July date for clarifications on roles and redundancies but said in a statement from its US office that the sale of most of GE Capital’s assets was ‘a complicated strategic change’ that would take about two years to complete.
The statement said: "We have not yet finalised our analysis of the impacts of the transition or roles within GE Capital – making it too early to comment on how individual roles will be impacted.
"We anticipate some employees may go to a successor employer (purchaser), some to other GE businesses and some may leave in a redundancy. As always, GE is fully committed to treating our employees fairly, ensuring a smooth transition and complying with local laws and regulation."
You can read more about this, including the Oakland Partnership’s results, in June’s Leasing Life, available soon.
