The next round of layoffs is underway. All field engineers are being laid off August 27. GE started a new company called Field Core, and they are making crazy low offers to the current field engineers. All to save their asses. No thank you. I am out of here.
Fresh info from @NIG4ud0-Aiky.
GE has plenty of disgruntled current and former employees that would enjoy helping any investigation. GE underestimates the impact of unethical employee treatment.
In Europe GE is run by Alstom. All the high up position till middle management it was given to alstom and everyone is suffering. They all got promoted with no actual reason. Fieldcore it will be the low cost company of GE where mechanics will be promoted to engineers
Ditto to the last two comments.
While they are getting rid of people take John Rice, Susan Peters and Beth Comstock with him. So out of touch... time to cut the Corporate payroll- why all the people that make it happen all the time... never see the people making the decisions and millions getting impacted. Rice and GGO a good billion dollar savings that gets allocated back to the businesses with no ultimate payback... what a waste. How many corporate jets do we have...how about downsizing those.. if belt tightening is needed lets hit where the big bucks are. Rice latest blog leads one to believe no big changes coming.... really- in case you weren't paying attention John...investors, Wall Street , employees and customers want change ( you certainly know that term--- you taught us that change is good) except I guess when it is at the Corporate level. Reminds me of the old saying "do as I say not as I do". Amazing that Trian did not insist on separation of Chairman of the Board and CEO. A company this size should not have that conflict of interest. Additionally the entire BOD needs replacing as they are as much responsible for this mess as Immelt. Wonder how much company will spend on Immelt's forced retirement party... bet enough that no T&L for employees to visit customers etc. you know those front line people that make GE what it is. I for one look forward to the day I don't have a Rice blog taking up space on my e-mail.
And after all this the corporate echelon has the audacity to ask employees to send a farewell to Mr. Chairman on the home page. Well Mr. Chairman thank you for the over 40% drop in stock price since your tenure began, thank you for the billions you wasted on buy backs ( that by the way did nothing for the stock), thank you for the over $30B of under funded pension (those still drinking the kool-aid that think the company isn't about to freeze your pension as a best case scenario think again), thank you for freezing wages for two years and then giving a meager 2% increase this year ( divide that out over three years...) and most of all thank you for the disasterous deal you got us into with Alstom ( the only one smiling is Siemens- they ran the bid price up and you took the bait and got s---er punched)
Oh I almost forgot through this thank you for all the families you impacted through the massive layoffs to keep up with your irresponsible decisions. You've got to admit your leaving one hell of a legacy in addition to walking off with over $200M. And with all this you just can't leave but hang around until the end of the year to monitor the new CEO....like this is a retirement- for all those who are naive this is a "forced" retirement- anyone who tells you different has an integrity issue... but then Corporate is very high on integrity just ask anyone one of those making millions at the expense of everyone else. Here's my sentiment good riddens "Jeff" ( oh did I not call you Mr. Chairman) and don't let the door hit you where the sun doesn't shine on the way out. Thanks for nothing!
I have imagined it, and it is maddening. It's like sabotage from the top!
Imagine the impact to GE with all the field engineers disgruntled. This is a perfect example of the disconnected leadership. These field engineers have saved GE's you know what for many years. Go ahead, LOL, make them all disgruntled and start measuring the negative impact. Put that on your cost saving PowerPoint and smoke it!
Waiting for the shoe to drop over in GE Industrial. Being sold off but rumors of some parts being cut out and dropped in Fieldcore. Not hearing good things from those that are in fieldcore now.
Hopefully, I'll be gone by then too. This place is a mess.