learned that two thirds of GE Capital Solutions’ Swiss workforce is
to be cut.
“I can confirm that two thirds of our Swiss workforce will be
impacted,” said a company spokesperson. “However, we will not be
closing down our office in Switzerland, but continuing to work with
large local customers and servicing Pan European customers with
operations in Switzerland.”
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The move follows GE Capital Solutions’ confirmation of a UK
strategic review, with 350 staff confirmed. “We can confirm that GE
Capital Solutions has completed a strategic review of its UK
operations in light of the ongoing global economic turmoil,” said a
spokesperson.
“As a result, GE Capital Solutions – which includes major fleet
management, equipment leasing and commercial distribution finance
operations – will concentrate on providing value-added solutions
and services to mid, large and multi-country customers across
Europe.
“This will mean changes to the UK organisation and we have
written to employees to engage them in the process.”
Meanwhile, GE has reported Q2 2008 EPS of $.54; revenues of
$46.9 billion, up 11 per cent; global revenues of $25 billion, up
24 per cent; orders of $27 billion, up eight per cent;
infrastructure segment profit of $3.2 billion, up 24 per cent.
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