GE T&D India, in a stock exchange notification, has said that it was considering redeployment of excess employees in its Global Engineering Operations Division.
In the notification, GE T&D India said that it enters into short-term, non-exclusive contracts and/or purchase orders for global engineering services with other companies in the GE Grid Solutions division, outside India.
However, GE T&D India has been formally notified that effective June 30, 2021, no new contracts/purchase orders will be issued to it in relation to those services. Further, existing contracts/purchase orders will lapse at the expiry date or will be terminated by notice.
The main impact of the reduction in such orders would be excess capacity in its Global Engineering Operations Division. The company was therefore exploring the possibility of redeployment of employees affected thus.
“The principal impact of the reduction in engineering services orders will be excess capacity in its Global Engineering Operations Division. In order to mitigate the costs, the Company is exploring the possibility of redeployment of the affected employees,” said GE T&D India in the notification.
January 2021 announcement
It may be recalled that in January 2021, GE T&D India announced that the company had agreed to sell its Global Engineering Operations Division (India for Global) to GE India Industrial Pvt Ltd, together with the assets and manpower comprised therein along with its corresponding liabilities on slump sale basis on an “as is where is” basis.
The activities of the said business were to provide engineering and product & project design services to global affiliates of GE Grid Solutions and hence non-core to company’s business. GE T&D India Ltd would continue to have an internal team to support such activities of its business, the company added. (Read full story)
(Editor’s note: No confirmation about this sale having taken place was available, till the time of filing this story.)
(Featured photograph is for illustration only)
