GE to Keep Indiana Plant, But Some Will Be Laid Off

A General Electric plant in Bloomington, Indiana will not close down as feared. But some of the plant’s 680 employees will lose their jobs.

Federal tax credits will keep the facility open, to manufacture energy-efficient refrigerators.

The plant will stay open at least into 2010.

The International Brotherhood of Electrical Workers local 2249, which represents the employees, is offering adult education and training in anticipation of eventual layoffs.

The General Electric Company, or GE, is a multinational technology and services conglomerate incorporated in the State of New York. In terms of market capitalization as of September 30, 2008, GE is the world’s tenth largest company.