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Report: GE Will Sell Appliance Business

There are reports that General Electric Company will sell off its appliance business. The Wall Street Journal quotes unidentified sources, reporting the company has hired Goldman Sachs to auction off the unit. No one at GE or Goldman Sachs would comment.

The appliance business is based in Louisville. There are 5,000 employees at Appliance Park. In a statement to media, Louisville Mayor Jerry Abramson said he's been talking with GE about possible job losses at Appliance Park, but those conversations didn't include the sale of the division.