Straczik all hands we were told that more layoffs likely. Confirmed by Intile at his all hands mtg that a cut is coming for engineers in Power. We’re also told that some work is moving from G’ville to Hungary, as hourly/rates to manufacture are 7... — read more
Topics regarding layoffs at General Electric Co.
GE Sells Yet Another Division https://www.fool.com/investing/2020/06/02/ge-sells-yet-another-division.aspx
The UK tax authority has accused General Electric of fraud in a $1bn dispute over tax deductions claimed by the industrial conglomerate going back 16 years. HM Revenue & Customs launched a claim against GE in 2018 arguing interest deductions... — read more
Latest news: https://www.marketwatch.com/story/ges-stock-loses-more-than-10-in-2-days-after-ceo-larry-culp-warns-cash-burn-will-increase-2020-05-29?mod=home-page "$2 billion in cost cutting, and $3 billion in cash conservations actions, not... — read more
Link here: https://www.facebook.com/photo.php?fbid=1509033979305203&set=p.1509033979305203&type=3
Over the sale of the Edison light bulb factory. Soon Other Factories will close or be sold.
https://www.forbes.com/sites/johnmauldin/2019/10/21/how-ge-screwed-over-its-retirees/#52266bfb2b7e. I was swept up in the wave of engineers laid off (and pushed out as early retirees) from GE Aviation back in 2016. Now I'm watching the problems of... — read more
I and many others Can not wait for the walking papers. June/July is coming up fast no more sweat shop for me and many of my union brothers.
GE beginning to reduce 25% of its global workforce as planned
Anyone else receive a Class Action Notice against GE in the mail this week? This one is for employees who were invested in certain GE 401K savings and securities since 2011. If true, what a joke this organization has become. Glad I never looked... — read more
I am afraid GE is using the same tactics used by outsourcers like IBM and DXC. Namely, they will fire you: (1) If you are 40 and above. (2) Make 100K and above. (3) They don't like you. Or (4) Someone did a better job kissing butt than... — read more
We will all be out of a job sitting home. From my brief interactions with the management team. I can clearly see that their demeanor is off like they know something is going to happen. Like a workforce reduction but they are told to say everything is... — read more
Trian disclosed their position in GE was worth $6.94 billion on 31 March 2020, when the stock closed at $7.91, Last closing price is $5.50, which would make the same number of Trian shares worth around $4.8 billion. Doesn't that make Trian GE's... — read more
Is this the breaking point that pushes the company to conduct its major restructuring? T rates are a bunch of babies! They think GE owes them something! If they don’t like it they can quit! Well once all the T rates are gone the d rates... — read more
Hey team Larry Culpable called me back for a big event in the beautiful new HQ I built in Boston. I was really good a building research centers around the globe and ensuring each business had hard earned cash siphoned off to support them to create... — read more
Another long article - https://www.businessinsider.com/ge-stock-price-after-job-cuts-coronavirus-2020-5 General Electric announced it would slash around 13,000 jobs in its aviation division this year to tackle with reduced demand resulting from... — read more
Since there isn't much work left to do at GE, we could send all of our great minds to the research facilities seeking a vaccine and treatment d–gs for covid-19. They could show the scientists our famous best practices, lean, and Six Sigma techniques... — read more
This is important information we need to know for contingency plans, if layoffs are coming to my unit...
Is Power on the chopping block AGAIN?
Who didn't see this coming? https://www.genewsroom.com/press-releases/update-covid-19-ge-aviation-business-impact. Boo Ya!!!
Culp states cuts to power are on the way because of the Coronavirus. I’m glad I accepted the call back after the last round. I contemplated returning kinda glad I did until now. If I am cut again I will not return to GE but that’s what I said the... — read more
I think he wants 30%
Just got the meeting from HR. I’m not sure when other meetings are coming.
Management was going to provide a chicken dinner for the employees today at Greenville plant and they run out of food before the employees can even get in the cafeteria. Wouldn't expect anything less from these people.
So, I make about $ 35 an hour, or $ 1400 a week. I'd qualify for $ 504 a week in NY for UI, GE pays IEA (UI top up..70% of $ 1400 - UI..I think?). So I'd get another $ 476 there and then the $ 600 COVID-19 kicker, so a total of $ 1580 a week, sweet!... — read more
No layoffs are coming government bailout will save our jobs. Be grateful we are essential workers and saving this great company one part at a time.
Across the conglomerate, different business units are laying off people and taking actions to reduce payroll expenses. GE Digital just went through another management shuffle (same vp’s and senior/executive bands in new position titles)... — read more
What's rooftop consolidation?
My dad worked for GE for 38 years . Worked for the same GE and retired . I currently have 41 years with GE , been able to dodge business sale off and lay offs . I worked for GE Plastics , GE Appliances , GE Lighting , GE Industrial Solution , GE... — read more
I understand that a lot of the layoffs are coming from power and aviation but has anyone gotten word on if the lounges will close as a result of this? We rely pretty heavily on our lounges as we work with complicated engineering programs and would... — read more
Recently retired and received my final paycheck. All up to date and looks good, however, I have a question and concern about the payment that was held in arrears about two years ago. Many of you may be aware of the payroll change that occurred... — read more