Boston, MA 08/21/2014 (wallstreetpr) – General Electric Company (NYSE:GE) looks to expand in different geographical regions in US. The recent example of company’s expansion plan was seen when GE Healthcare decided to build a new headquarter in Marlborough. GE is looking forward to making home of Boston Scientific its new HQ for 500 employees. If everything goes fine, then the company will join the list of two dozen medical device firms that have their headquarters in Marlborough.
GE Plans For Job Cut:
General Electric Company (NYSE:GE) Healthcare is a subsidiary of General Electric and has the HQ in United Kingdom. The company made public its intentions clear to shift its headquarters from Piscataway, N.J. to Marlborough last week. The current facility of GE is located in New Jersey where it has around 400 employees, although the company is planning to cut 218 out of them in the near future.
The site where General Electric Company (NYSE:GE) has decided to shift its HQ has been used for customer application facility, laboratories and office spaces in the past; therefore, it will have to renovate this place. GE is going to spend as much as $21 million to grab this 160,000-square-foot site. The company will renovate the entire site and turn it into a world-class office space. According to reports, Quest Diagnostics moved its office in the same building two years back in 2012. The economic condition of this area has improved significantly over the past few years; hence, Quest Diagnostics decided to move 200,000 square feet of space to this place.
A lot of cluster science companies have entered into this town over the last few years due to extensive growth that it has witnessed. The property prices here have gone very high due to the same reason; therefore General Electric Company (NYSE:GE) is in no mood to miss this golden opportunity. The management of the company feels very positive about the decision to move the base of healthcare business to Marlborough.