Thread regarding General Electric Co. layoffs

Mr. Jack Welch built up GE on the backs of the many that were devoted to the
GE Dream.
Sure he was a shrewd business man but after all,,,
"It's not personal, Sonny. It's strictly business."
When Welch stepped down, GE was the envy of the business world and had a reputation for training superb managers and being a giant with the agility of a ballerina.
By the time Welch died, the company had become a stunning symbol of gargantuan strategic mistakes and executive incompetence.
Thanks, in the most part, to Mr. Jeffrey "Two Jets" Immelt, hand picked by the afore mentioned.
It turned out the problems at Power were not unique. For years, GE’s profits had been a mirage built on whirlwind mergers and accounting sleight of hand. The funds that had been doled out to shareholders as fat dividends — and had covered its managers’ lavish perks and pay — had largely been borrowed on the strength of the company’s golden credit.
The accounting tricks that looked like profits were actually just borrowing from the company’s future earnings.
Disgraced CEO Jeffrey Immelt would travel with not one private jet but two — just in case — and would stock his planes with both lobster and steak as he drained the company’s coffers.
So, if there's any blame that needs to be dealt with about what has transpired over the past couple of decades, just give old Jeffrey a call, I'm sure he'll want to make it right...NOT!!!

As soon as leadership was consumed by financial guru's the GE collapse started. Financial guru's invented their own fake world at GE and many other large corporations. Then they hired all their financial buddies to help ruin the place.

Massive cuts on the way. Capital District “it’s Huge”

Also, when you throw in the towel and look after yourself, at least you will not affect anyone else like the GE Board (especially since year 2000) by taking the “easy street” way of making decisions and money for the company without considering future consequences. I don’t care how they pointed their fingers with blame/shame on the hourly workers all these years or who they used to carry this out and the Totem Pole to revert the attention/problems from themselves. We have known for years where and with whom the problems existed with GE. Don’t blame the economy or society’s greed either, this is no more the cause than the hourly workers. Carryon folks, you can and will do better as companies are a dime a dozen out there that will give you the respect you deserve, a place whose leadership and management will roll up their sleeves and work hard to turn over every rock and cranny before making a stab in the dark management decision for the good of the future company and you. Better days are ahead of you as they were for me.

They tried to handle but obviously made management choices without factoring in future consequences of the whole company. In the end, management throws in the towel and looks after themselves, who wouldn’t, just like you will do one day for yourself.

The company turned bad when they started capital and milked all the cash with big salaries and bonuses for execs. They knew capital would eventually fall apart. Cash flow was good so kept investing more and more and let manufacturing slide. They sold Appliances, Transportation and dozens of others that were profitable but could not stomach the low margins that required hard work. They wanted high easy margins like tech companies so digital came along. By then they were outclassed and out positioned by other tech companies. So then they said going to concentrate on manufacturing but it was to late. Organization bloated and mostly filled with finance people. Along this journey they paid employees well to keep them happy to the wheels started to come off. So to correct this they look first to the little guys to cut while bloated management drains the coffers. Goodbye GE you the last 10 years were your swan song.