Thread regarding General Electric Co. layoffs

My husband chose VJRP last year with over 15 years at GE. He was close to retirement but we decided it was not worth sticking it out any longer. They had taken away vacation that would have been paid out when leaving the co. by changing to permissive time. They ended healthcare in retirement for those retiring after June 30, 2019. Not really many reasons to stay. He got a job 3 mos later at a higher salary and bonus. Also, we are paying the same $ for better health benefits.

@RByxK3h-1qed Just out of curiosity, how much would be considered the "high end" of SPB?

@RByxK3h-tqq I know lots of GE folks who think that way , complacent , think they are well compensated , drink the Kool aid about the "it's risky to get out, so I am staying out"

I spent 13 yrs at GE (joined out of college), and got out a few years ago . Although I was compensated closer to the high end of SPB at GE, outside GE I make about 50% more than if I had continued there.

Friendly advice : Look around , understand your market value ... and remember - the risk of not moving may be greater than moving

@RByxK3h-vad - You say that after being at GE for 16 years starting at a new place will mean most likely less money. Horsepucky! I think you have a bit of Stockholm Syndrome going on. If you stay at a one company year after year, your reward is a 2-4% bump in pay. Before you realize what's happening, years later people are being hired off the street making more money then you are and that's because your wage hasn't keep up with the competitive job market. Look at the world outside of GE -- the economy is a speed freight train and wages are accelerating! Now is the time to take advantage

@RByxK3h-vad - You say that after being at GE for 16 years starting at a new place will mean most likely less money. Horsepucky! I think you have a bit of Stockholm Syndrome going on. If you stay at a one company year after year, your reward is a 2-4% bump in pay. Before you realize what's happening, years later people are being hired off the street making more money then you are and that's because your wage hasn't keep up with the competitive job market. Look at the world outside of GE -- the economy is a speed freight train and wages are accelerating! Now is the time to take advantage

In Power the "Professional" band folks lost our vacation years ago, to the permissive leave policy.

They're moving several employees to "bubble assignments" in GO which means they are becoming contractors and are asked to sign on the dotted line that gives them an expiration date. Letter has details of what will occur regarding COBRA etc. without severance. If they choose another bubble or apply in COS for a FT role, they will then be extended with a new letter and date or hired. Otherwise, they walk out without severance.

Eventually they are going to take away or vacation, too. They will say it is for the good of the company. How much will you give up, just to keep working for the evil meatball?

I am a short timer, the sevrence they'd offer me isn't worth the stress.

I think you have to weigh your options. If your at a job for a extended period of time I think one would have to stay, unless something outstanding was offered. Like for me I have 16 years, I know eventually I will get laid off, or that's at least my gut feeling. In my case to go some where new to start over means most likely less money, less vacation time, and what guarantee that the new place would lay me off shortly after. It's all ones preference. Now if I had less than say 5 years then possibly a different story. Every ones situation is different, and must be weighed accordingly.

GE is cutting everything else they can. Don't expect the severance package to be around if you wait too long!

Everyone will not be offered a severance package. Weigh that too.