I Wish y'all luck. At least stick it out for your yearly 3% on the 401k, then it's head hunting season.
Topics regarding layoffs at General Electric Co.
Sounds like its focused on Gas Power Systems Controls engineers. They were told they will be offered jobs with Quest-Global.
GE is freezing the Pension, initiating Tier 2 pay, cutting benefits, and layoffs. Where's the investment in manpower? The old guard is getting old and leaving. The new will be whomever they can find. The old days people would feel like they've made... — read more
Any truth in this rumor?
Heard there were layoffs in digital a couple weeks ago. True and anyone know how many poor souls were impacted right before the holidays?
WAYNESBORO, Ga. (AP) — An eastern Georgia industrial plant will close by the end of 2020, laying off up to 200 workers. General Electric Co. tells local media it will close its high-voltage electrical switchgear plant in Waynesboro, consolidating... — read more
If GE were to go bankrupt in 2 years, what would happen to our pensions?
now with the 7HA03 wrapped up, and alstm h-e coming to an end, engineering work is getting thin. big-o wind too. Can anyone give a heads if other companies are hiring engineers? anyone know whats going on at florida turbt? i don't think pratt & rr... — read more
Anyone else heard this? Potential due to taking on Grid, who is very heavy with digital from the Alstom acquisition.
How likely is that there will be General Electric Layoffs 2020? Any news or rumors?
With BH taking majority stake in O&G, will there be CASholes (glorified financial analyst monkeys) run around the corridors as CFOs. Baker Hugh should stop all these stupid leadership programs, or select candidates based on merit.
Guys, I am currently negotiating an offer with GRC niskayuna for a SPB position and wanted to know if it is recommended to join? I understand there were some site shutdowns and layoffs 2-3 years ago and there is currently a funding model change... — read more
Is anyone else finding that the buyout offer is way lower and does not make sense to take? I am in my early 40’s. They are offering about $100K as a buyout. The age 65 monthly Pension is about $1,800 per month. Every financial company I... — read more
And take back your pension!!!
So a 15 cent LOSS per share is what happened in Q3, but some pennies got added back to hit the +15 cent per share adjusted earnings beat. One of those was about 8 cents per share for the surprise Alstom Hydro goodwill writeoff – am I correct? Was... — read more
General Electric Company announced on Wednesday that its net revenue in the third quarter stood at $23.4 billion, flat compared to the same period a year ago. The company's net losses per share were 59% lower in the third trimester on an annual... — read more
When you go through the online portal it will give you several options. When you click lump sum there is no way to roll to both a traditional and a Roth. What does this mean? If you select traditional you will get double taxed on your vpa. If you... — read more
I do not see why I got called back from my layoff? Confused that after the contract many got called back. Is the demand up for generator parts? I’m not seeing it here I do see is the company stocking up on future orders. With that said I also think... — read more
When I was young I calculated my long term funding for my older years . Was not counting on GE changing the rules when I got older . My advice don’t trust GE Everybody needs to remember this moving forward. I think GE has managed to destroy that... — read more
How Much Is GE Shortchanging Pensioners Taking Lump Sums? Use Our Calculator (Spoiler alert - it's a lot.) Desperate General Electric is cleaning up its balance sheet. One method: let 100,000 ex-employees give up valuable pensions in return... — read more
The lump sum pays to be young but not old. If I roll to a 401k I only need to beat 4.5% on the market since I'm young. If you are older say in your 50s it would be more like trying to beat 10% on the market. The magic age looks like it is in your... — read more
Usually layoffs happen with quarter end(+‐ a week). I anticipate next one to be a week before Christmas. This. GE is pretty consistent when it comes to layoffs and I don't remember that holidays ever made any difference in when they were... — read more
Under Jack Welch, investors treated the company as if it could grow like an internet darling. It couldn't. Don't Blame Jeff Immelt for GE's Stock Woes Under Jack Welch, investors treated the company as if it could grow like an... — read more
Look for the great holiday bash from our great leadership team. Power will be getting hard gifts this holiday season from our company.
Don't put it past GE to do mass layoffs while you have this pension offer in your hand. You will be desperate for money when you get laid off and have this offer in your hand. I would expected mass layoffs between now and Nov. 25th.
I drove out back and saw a crane putting up framework for the new sign. Along with the rumors of more down sizing for Power. Is my job safe?
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.
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
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?
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
Under Immelt GE sold off its money-making GE Finance unit piece-by-piece and bought money pits like Alstom, which Immelt called its best deal in a century. GE Power is still the anchor holding the whole company down, with revenue down 22% year over... — read more
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
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
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
Also, comment starting with the word CLAWBACK - if we get enough people do it, it'll push this thread at the top of google searches...