http://www.morningstar.com/news/dow-jones/TDJNDN_2015082412885/ge-cuts-jobs-closes-foundry-at-lufkin-unit.html
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GE Cuts Jobs, Closes Foundry at Lufkin Unit
Slide in oil prices has led to a drop-off in demand for the drilling equipment made by GE’s Lufkin unit
By TED MANN
Aug. 24, 2015 5:32 p.m. ET
General Electric Co. plans to close a historic foundry and eliminate more than 250 jobs at its unit in Lufkin, Texas, as the company deals with a drop-off in demand for drilling equipment in the wake of plunging oil prices.
Ge dumbest shareholder value oriented got spreader from ge capital to oil and gas. It is an ideological disease of financial management and leadership. GE you have not learned yet from the 2008 government bailout..... where are you my dear Jack Welch? Short term profits took over GE with some people pleasures... how sad with empathy?
0451 Are you talking about the divestiture plans...
No job is safe and if the oil keeps going down its possible for them to layoff.
too late 0120, the market is already swamped with folks released over the last 8 months. what's taking GE so long, and with rumor upon rumor we about to take on a drilling unit? i guess someone will have to move over and make room.
They need to hurry up before the market a get swamped with unemployment and finding a job gets difficult in this state... hurry up and are up your mind GE... The barrel is 40 buck and the EPA is regulating more restrictions on the old ESP methods.... do the right thing pay the people for the earned years and let them go for some new delicious cheese because they are fed up with your rotten cheese of management style in ESP
Yeah... who cares about the location.. let the managers and supervisors bump their chess up as if they scaring us all they are doing is looking like fools Devil worshipers...
Thanks for the heads up... but at this point as many layoffs as I have been through my they can hang themselves for all I care....
What location? No layoffs here or any other location that we know of.