Bad news for GE Healthcare workers in Vermont. The company, which specializes in information technology for the healthcare industry, announced last Thursday that it plans to lay off about 10 percent of its workforce in the state. The company promised, however, to try to find “alternate roles” for those who lose their jobs.
“While GE Healthcare regrets the loss of any jobs, the business needs to make tough decisions in the current economic climate,” company spokesman Benjamin Fox told the Barre Montpelier Times Argus.
It’s unclear at this time how much of GE Healthcare’s workforce these cuts represent, though the Burlington Free Press reported that in January, GE Healthcare employed about 527 people.
The company’s South Burlington, Vermont facility was founded as the medical software producer IDX Systems. GE Healthcare bought IDX in 2005 for $1.2 billion.
Vermont Deputy Commerce Secretary Patricia Moulton Powden called the job losses at GE Healthcare “tragic,” but noted that there are other high-tech companies in the area looking for talented employees.
“The only silver lining is we have a lot of employers looking for this kind of talent,” said Moulton Powden.
Earlier this month, the healthcare giant posted profits of $620 million on sales of $4.31 billion during the three months ended September 30, for a bottom-line gain of two percent but a top-line dip of 0.6 percent, compared with the same period last year. Layoffs have been common as of late across the entire medical devices industry.
Edited by Brooke Neuman