175M cost-reduction from last year (Q4?) layoff, 200M from Q1 action that can be booked against Q1 (the March layoff in Power should not show up in Q1), then JRI spent 220M to buy Digital companies or what not and 80M on EOP, only 75M cost-out actually achieved in Q1 against the goal of 1B.
Only 925M cost-out to go for the next 3 quarter -- fortunately 250M of that is going to come from IT. They are helpless anyway so 250M less can't make it worse.
Take the package if it is offered! I'm in GE Power, and a guy I worked with was offered a package. He didn't take it, because he didn't want to retire yet. A month later they pushed him out anyway, without any of the incentives that were in the package. He's still kicking himself.
800 people have been offered a voluntary severance in GE Digital in late April 2017.
Do I take the package or ride it out?
The GE stock price continues to decline. Investors and customers are discovering the reality of declining quality and increasing cost. Be prepared. Get your resume ready.
Layoffs are the only solution Bolze and Immelt know for their bad decisions. A major quality problem with a major Power product will only compound the problem. This problem will soon be known by all. Especially the investors and customers.
Has there been any word on layoffs inside GE Energy Connections? We are approaching mid-year and not much going on with new project work coming to some of the Grid Solutions offices.