General Electric Co. is blaming a sluggish North American market with plans to lay off 250 hourly and salaried employees at the company's Fort Worth, Texas, rail facility.
The company said that currently 15 percent of the country's freight locomotive fleet is parked due to lack of business, creating little need to make more train locomotives.
In a written statement, the company said that not only will the layoffs start in April but other employees will have schedules reduced from 40 to 32 hours per week.
Currently, only 50 percent of the plant's capacity in Fort Worth is being used.
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