WAUKESHA, WI (MetroSource-WSAU) General Electric will close its engine plant in Waukesha by next summer. The shutdown of GE Distributed Power, formerly known as Waukesha Engine, has been looming since 2015. Production is being moved to Canada.
Layoffs will start at the end of next month and continue until the end of April. 236 jobs will be lost.
General Electric announced the sale of GE Distributed Power last week to Advent International for $3.2-billion. Industry analysts say GE has been selling off some divisions to pay down its debt from a series of bad acquisitions in recent years.
The company will noticeably smaller going forward. Last week GE was removed from the Dow Jones Industrial stock index, as it no longer qualifies as a top-30 manufacturing company in the United States.
