GE Commercial Finance says it plans to close a Vermont office picked up when the company bought Bombardier Capital Inventory Finance Division June 1 in a $2.3 billion deal. GE says the division's Colchester headquarters would close within the next year.
GE is consolidating the Colchester operation into other offices within the company. Of the total 230 employees affected, 145 jobs will be lost and about 85 will be offered jobs in other locations throughout the company, company officials said.
The Colchester office provides financing for dealers in four business units: Powersports, including snowmobiles and all-terrain vehicles; Marine, Recreation Vehicles and Manufactured Housing.
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