General Electric Co. Layoffs

Topics regarding layoffs at General Electric Co.

INFORMATIVE ARTICLE

https://www.mysanantonio.com/business/article/As-GE-freezes-pensions-employees-rethink-their-14509775.php Is GE having a podcast or any other means of communication [ 800 number for Conference call ] with FORMER employees? Please help.

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Post ID: @11vaqxdk

Don't take pension buyout

The buyout is only good for GE debt reduction by taking money from the workers. The leadership drove GE to it's current state, so leadership should have to pay for it. By accepting the buyout you loose money which in turn goes into Culps pocket. He... —  read more 

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Post ID: @11u2UGKJ

Ex GE employee pension

I chose to leave GE a couple years ago. Today I received pension buyout info in the mail. Is this a joke, why would I do this? To accept the buyout can only hurt me, correct?

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Post ID: @11uDXY4m

GE pension buyout arrived in the mail today

Buyout or not? How to decide? 15 years until age 60. Buyout is $125k. Monthly payments would be $2k starting in 15 years. If buyout taken, annual expected return on 401k assumed to be 5%. Looks like I would benefit staying in the pension plan if I... —  read more 

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Post ID: @11uslbHt

Could this be the plan?

As I see it, the plan is to: Downsize and stabilize Power. Present and future business will be low volume and slim profits. It's hemorrhaging cash right now. Renewables look fair to midland. Maximize Aviation. It's their only cash cow as of... —  read more 

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Post ID: @11sNmJJ9

US salary- healthcare going up

Well don’t be surprised when you look at enrollment that your health deductibles etc. going up...only for salary not the hourly as that was negotiated with no increase. Interesting that was not mentioned with the pension freeze. Continue keep... —  read more 

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Post ID: @11ss2UUZ

GE Ranked #10 In The World

I would like to see what will 2020 survey bring... For now, ranked #10 - amazing! This is per Business Insider, coverage of "World’s Most Attractive Employers 2019" (WMAE 2019) Source Study: https://universumglobal.com/wmae-2019/ PDF... —  read more 

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Post ID: @11rnZTr3

GE IS A MESS BEC OF IMMELT..

I want to know why Immelt and a few others are not in jail for the way they ran this company? Jeff, you S—ED.. You destroyed this company with your behavior, attitude, the way you wasted money. Are you that damn arrogant to feel you did nothing... —  read more 

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Post ID: @11qugkdv

GE Clawbacks

Do you think we can claw back some money from the CEOs that got really rich while doing illegal stuff and destroying it for all of us? It must be tens of thousands of people are suffering because these CEOs decided to cook the books in order to get... —  read more 

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Post ID: @11paanM0

GE Carrot Gone

New execs, no carrot: Employees who become executives after 1/1/21 For new executives starting in 2021, GE will provide a new defined contribution plan benefit that restores contributions limited in the 401(k) plan by the Internal Revenue... —  read more 

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Post ID: @11pVClWY

GE Executive Retirement Benefit (ERB) Established

GE Executive Retirement Benefit (ERB) - About 700 execs affected: Beginning 1/1/2021, affected executives will begin participating in the Executive Retirement Benefit (ERB), an installment retirement benefit currently offered to new executives... —  read more 

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Post ID: @11p8Q4u0

GE Benefits Frozen

20K Impacted - Benefits Frozen Effective January 1, 2021, the U.S. GE Pension Plan benefits for eligible employees with salaried benefits will be frozen. Benefits accrued through December 31, 2020 will not be impacted by this change. Affected... —  read more 

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Post ID: @11pCF2gg

Schenectady

So now All OPS Leaders will have there desks on the floor in there areas. This will be great for the LAZY people. Also now we will see how much management don't do.

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Post ID: @11oreKVJ

Culp's First Year

Here it goes, from Barron's: GE CEO Opens Up About His First Year at the Helm — and What Comes Next https://www.barrons.com/articles/ge-ceo-larry-culp-on-his-first-year-at-the-helm-and-what-comes-next-51570044659 General Electric CEO Larry... —  read more 

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Post ID: @11kPZX7G

Get out of fossil Power while the getting is good

GE recently restructured its renewable-power unit—a change made by new CEO Larry Culp. The unit now includes renewable assets such as wind, as well as the company’s grid-power-transmission business. To be sure, not all is fixed at GE Power. Gains... —  read more 

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Post ID: @11kl9xdF

CULP THE START CEO HAS A PLAN

The plan will be diversification of the 3 money makers and restructure power. First he must slow/stop free cash flow. Second bring in fresh cash to ease investors. Third fix the huge pension issue. Fourth layoff more in power and continue the... —  read more 

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Post ID: @11kPnMhL

Power attrition will be the last straw

Well Strazik was asked a question about the attrition rate. In his normal monotone emotionless manner said it was 6%. Then he went on to state that even though it is high it will help curb some of the future cost cuts. Really! Well news bulletin Mr... —  read more 

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Post ID: @11fO4kCx

60 Generators for The Schenectady Next year

I’m sure all the laid off union members will be getting called back before the holidays. Orbit pay and OT here I come. I am going to work 30 days in a row on orbit pay to be better prepared for the next wave of layoffs.

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Post ID: @11b5baa3

The sound of silence is golden for Power

Along with calling back the members on the layoff list for a short time. Then again More Layoffs to come! The company makes some appeasements to the union for now. Then the company will continue to restructure power. Still waiting for my walking... —  read more 

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Post ID: @116iCNaF

Silence is Golden

Funny how the Contract was approved and call-backs are underway and this site has nothing regarding what good the Union did? Must be the naysayers are too busy eating crow to talk? Feathers coming out of their A**?

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Post ID: @110GZXTM

GE and Six Sigma

https://qz.com/work/1635960/whatever-happened-to-six-sigma/

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Post ID: @10Sc4SDR

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