General Electric’s healthcare unit is moving the headquarters of its x-ray business
From Waukesha, Wisconsin to Beijing to gain from Chinese growth, according to Bloomberg. General Electric is planning on moving it’s 115-year-old x-ray division from America to China? True according to snopes.com
The company said only a few of its top managers would move to China, and that it expects no job losses at its Wisconsin office, which has 120 employees. GE Healthcare will however hire 65 new engineers and other staff at the new Chengdu facility.
This is part of the parent company’s broader plan to invest $2 billion in China. General Electric expects its health-care revenue in China to rise 20% annually through 2015.
Earlier this year GE Healthcare launched a three-year “Spring Wind” initiative that aims to helps the Chinese government by developing affordable healthcare products, boost medical distribution networks across China, and offer training for Chinese healthcare professionals.
In 2010, GE Healthcare also committed to sending 500 members into rural China to help grassroots medical institutions.
While the company reported no job losses in the U.S. stemming from the move, President Obama and Jeffrey Immelt are likely to face flak since Obama appointed Immelt the top outside economic adviser and charged him with running a jobs-focused panel to help bring the U.S. economy back on track. Immelt has also been criticized for employing 36,000 more people abroad, than in the U.S. and cutting 34,000 American jobs after becoming CEO, more from BI
GE CEO Jeffrey Immelt, The Head Of Obama’s Jobs Council, Is Moving Jobs And Economic Infrastructure To China At A Blistering Pace Jeffrey Immelt, the head of Barack Obama’s highly touted “Jobs Council”, is moving even more GE infrastructure to China.
Perhaps GE should change its slogan to “Imagination At Work (In China)”. If the very people that have been entrusted with solving the unemployment crisis are shipping jobs out of the country, what hope is there that things are going to turn around any time soon?