GE has been on a roll lately, I'm just wondering what else can they take away... There is no pension anymore, no vacation time... Medical is as good as gone, considering how high out of pocket and deductibles are... Raises are a joke, if you are actually lucky (and I use the term loosely) to get it... So what is next?
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Don't give them any more ideas, you know they read this site too.
There will be no EOP in 2018. I’m not sure if they will completely deny bonuses for 2017 performance, but you can bet the bonus pool funding will be minuscule. I’ve heard they are trying to reduce SEB’s and EB’s significantly, and also limit the number of SPB roles going forward (likely so they don’t have to pay so many people a bonus).
To OP: Susan Peters, is that you crowdsourcing ideas for your next big move here?
Leased bricks, doesn’t surprise me. GE has plenty of test weights in their inventory. Local crane companies have Test weights for their cranes. Both concrete weights and counterweights that could have been used for a fraction of the cost. Water weights are also cheap. But, they layed experienced people like me off. They kept the dummies that make these decisions.
I'm going to fly the extra plane over with me, just in case..
Tuition program is certainly sub- par, raises are a minimum, appears that managers are fresh out of school, green, ignorant and certainly not technically save. Hey but they were omlp's.. baahaahaa
We just leased 10 skids of bricks to weight test a line. Guess what they allegedly paid. I was told by my electrician $15000. They don't even cost that on a purchase. OMLPs are running this into the ground.
And everything that comes out on paper has the clause..' we reserve the right to discontinue this benefit for any reason at any time'.
Technically, there is unlimited vacation time. If you’re in danger of layoff, I suggest you start utilizing that benefit!
Next they will want you to write them a check like suppliers have to for volume rebates. Hey, what volume??
GE self-insures, so any profit/loss on employee healthcare goes to the bottom line. Yes, GE makes a profit off of our healthcare premiums, so expect those to continue to climb.
You may have noticed the "free" dental and vision options were removed this year and part of the GE matching for 401K was changed from monthly to annually. Other benefits to be cut could include:
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Business bonus (as mentioned previously)
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2018 Raises
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401K GE matching
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Pension benefit increases (already rumored that GE may "freeze" the pension).
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Your whole paycheck
I would like to see the attrition numbers published in the next 12-24 months.
They capped tuition reimbursement at 10k a year for non program employees .
yeah, this comical. JF will be given a bonus to bring the stock up 20% . News flash ...GE your f_cking stock lost $12 per share in the past 10 months. There should no bonus for any of these a$$ clowns unless it break $32 ...
For those employees who receive a "bonus" based on business performance, it will likely be taken away but it just hasnt been announced yet. Now, mgmt will surely get theirs.