Guess we will find out on the 7th what it is they have planned with the employee meeting. Salary going first on Monday
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I thought all those six sigma projects we were forced to do was saving the company billions
Well dang. At least there's always plan B: have an accident and die before the life insurance benefit runs out...
Best of luck for those actively seeking new opportunities and control their own destiny, but MHPS is not doing very hot either, parent company just lowered guidance on everything today.
https://asia.nikkei.com/Business/Companies/Mitsubishi-Heavy-cuts-profit-guidance-on-power-systems-slump
I hope MHPS gets back to me with a job offer before then!
FAKE NEWS...the only salary cut (below E-band) will be a cut to zero (ie, layoff)!
Not FAKE NEWS is this case. They will lay you off and/or give band reductions. I agree it’s silly. But GE leadership is, unfortunately, silly. That’s why we are in this mess.
It’s FAKE NEWS. GE will lay you off, they will not give you a silly band demotion, lol.
I’m sure with a band demotion a salary reduction would happen. Also, in the unlikely chance we get a bonus, the bonus would be smaller. Salary increases in the future would be less. And the maximum salary would be a lower cap. Not to mention all the benefits based on salary percentages would be less. Don’t think this is option isn’t being considered. Another thing GE likes to do is to layoff people and then offer these desperate individuals lower salaries and band reductions in another role. GE is famous for laying people off and telling them jobs are coming soon.
Seems to me if the goal is to cut salaries, why bother with band demotion, just cut the salaries...the bands all pretty much overlap anyway...they mean nothing below EB.
Well, i’ve never heard of a salary cut. That’s worse than a layoff...are they trying to humiliate people into leaving?
Why would they do a "band demotion" without a corresponding salary cut?
A “band demotion” means nothing. A salary cut means everything!
A senior manager confirmed to me that professional band demotions were going to happen. Whether or not it started today I cannot confirm.
@val Fake News!
Layoff back in February 2017 (GE R Jan 31 was the lovely HR meeting, last day on the payroll was Feb 24.
They should bump everybody’s professional band down. Lower our salary while your at it. Better yet, let us all reapply for jobs through MAU. These are all awesome ideas and help our already low morale!! Typical GE leadership crap. Still clueless as to why we are in a death spiral. It’s simply pathetic.
They started the bump process in Greenville, SC today. I know of 4 that got moved to a lower classification. They are trying to make people quit before a layoff so it doesn't look as bad on them. What a bunch of TWATS!
@uxg nailed it. The non-union workforce will extend the life of the Greenville plant for a few years. The Gas Turbine business, though, is dying. There is a secular trend (downward) in this form of power generation, and we see it everywhere. Siemens, the former Alstom, etc. Future business will be primarily Africa and ME. If we don’t compete there the future of GE Power is ugly!
Greenville only has 20 something units for next year as well. GE Power/Energy was losing money with over 50 orders. No recovery projected in the future. It's amazing to watch everybody try to hang on to a sinking ship. Myself included. I have finally completed my resume and started networking for a new career. Leadership thinks they are so smart I plan to leave it with them.
I expect Greenville to announce bringing in more work soon from union plants and from Europe. Being non-union is the only thing Greenville has in its favor now.
I believe schenectady has something like 23 orders or so
All those with "New Project" in their job title will lose their job as no major project related job scopes are in the forecast.
I'll be happy with 2 or 3 months of TLO
Greenville doesn't have a choice but have a massive layoff. Very low work volume and no relief in sight. Manufacturing and Engineering will be slashed. We do not have enough sales to pay for facility operational cost.
what is Greenvilles workload like?
30% cut on salary side along with 30% on hourly side. There is next to nothing for Work in 2018
This mess is haemorrhaging cash so get ready for a pay slash around 25-30% and take it or leave it.
b---s--- just a bunch of rumors
20% reduction
Posted on the bulletin board for the meeting
don't they normally give salary a 60 day notice. wouldn't they want that 60 day (2 months or 8 weeks) notice to be in 2017. There are 8 weeks left in the year now.
If they don't postpone it again