GE lays off 500 in Hungary, close down one plant

The company will lay off 500 employees - from currently 10,000 - at its lighting division. This decision will affect 8 of the divisions 9 facilities in Hungary. The facility Gyor will be closed down. The layoffs are expected to already start in 2008 and continue through the first quarter of next year. Other units that GE operates in Hungary will not be affected by this decision.