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?
Topics regarding layoffs at General Electric Co.
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...
The team rolling out the Pension Freeze is receiving a lot of pushback regarding why Immelt and the other responsible officers are not having any of their compensation clawed back. In response to these legitimate questions, this team has been... — read more
Was he right? Who's behind him?
Looking for confirmation from my smart GE friends to see if a pension freeze for someone retiring in 20 years is equivalent to a 11-12% pay cut. Here is what I had to do to estimate this since GE does not want to share the old pension estimation... — read more
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
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
Well here again a global workforce with only US workers taking the hit for past Corporate incompetence. And; only salary people being affected as the hourly employees union negotiated pension benefits into their contract. So at least another four... — read more
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
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
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
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.
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
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
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
Why the stock keeps going south?
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
$7 Million PER YEAR for a Monogram on a Celtics jersey, yet I am being let go in a cost savings effort!! What a sensible leader could do with $7 million–
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.
GE in Peterborough Canada not only poisoned their employees but also hundreds in the local community by selling sc-ap asbestos for them to put in their attics. There are widespread cases of cancers in the former employee population as well as the... — read more
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
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**?
Like watching a movie in slow motion.