GEORGE, Texas (Engadget) – GEORGE and GEORGE MANUFACTURING INC., which owns and operates GEORGE auto parts and other auto parts manufacturing businesses in the United States, announced today that GEORGE is restructuring its corporate headquarters, effective March 19, 2018.
GEORGE’s restructuring will result in a significant reduction of GEORGE manufacturing and sales workforce, with the company announcing that it will reduce its workforce by 5% and reduce the number of employees by approximately 10%.
The company is continuing to focus on its core brands and markets, which include: General Motors, Ford, Chrysler, Chevrolet, Chrysler Group, GMC, GMS, Dodge, Fiat, General Motors Advanced Vehicles, GMI, GMP, and Mitsubishi Motors.
GEORGIA, the state that includes GEORGE as a core market, is one of GEORGS largest markets.
GEORS CEO and President John W. Crutcher said, “We believe that GEORGs leadership position in the global auto market has been strong for a long time, and it has provided GEORGE with a very valuable resource for growing our business and enhancing our reputation in the world of automotive parts.”
GEORGE will remain as a wholly owned subsidiary of GEOL.
In addition, GEORGE has entered into a partnership with SABIC to develop, manufacture, and distribute new, premium auto parts in the automotive and parts manufacturing markets of the United Kingdom, India, and China.
As part of this arrangement, GEORGES products will be available to customers in India, China, the United Arab Emirates, India and Malaysia.
In the U.S., GEORGE plans to continue to sell its GEOL-branded auto parts to its customers and other automotive retailers, including AutoZone.
As a result of GEONAS restructuring, GEONA is eliminating its GEORGE dealers and will operate the newly formed GEORGE Auto Parts business in its entirety.
The company will continue to operate GEORGE vehicles, parts and accessories in its existing facilities and will retain the GEORGE name and logo.
The restructuring of GEORS headquarters in GEORGE ISLAND, Georgia, is expected to have a material impact on GEORGEs consolidated operating results, earnings, financial position and cash flows.
The restructuring will be completed as GEORGE anticipates it to be fully profitable in the fourth quarter of 2018.