https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2017-12-07/ge-is-said-to-plan-12-000-job-cuts-as-new-ceo-revamps-power-unit
Fake news this beoch’s
24 replies (most recent on top)
4,500 in Europe. 12,000 globally.
Actually most of the layoffs will be in Europe as was seen by the announcements this morning. GE is looking to cut as much as Alstom as they can because they see it as a drag on Power
It would be great if they stopped sending engineering to the "regions." Leave Sales in the regions and keep engineering at the main hubs (Greenville, Schenectady, Belfort, Baden, etc.) where the expertise is.
Have those impacted been notified?
Most will be in the US, as usual, where there are no worker protections and severance costs are very low.
If not US where will the cuts occur? France U.K.? Hopefully India?
Fake news
all the cuts that already happened to power are part of it. Including the 4500. So the cuts won't be as drastic. Doesn't look like any layoffs for hourly in Schenectady. Kudos too you guys doing a great job 301.
According to Scott Strazik this morning, the baseline for layoffs is June 2017. Layoffs that happened since June count towards the reduction.
@ypo these are “new” numbers, meaning the 4500 cuts are TBD
what I really want to know is, are these numbers part of the 4500 already laid off or is this separate from those
Russell “b---s---” Stokes had an all-hands this AM, but as expected shed no light on where/when layoffs will hit, beyond what was released to the media. This looks like the big one though, roughly 1 of every 6 employees will be let go.
GE cut around 800 jobs in France last year in Massy's boilers (https://www.capital.fr/entreprises-marches/general-electric-veut-licencier-en-masse-dans-sa-nouvelle-filiale-alstom-1096423), and is now planning 350 for Hydro in Grenoble (https://www.francetvinfo.fr/economie/emploi/chomage/grenoble-general-electric-va-supprimer-345-emplois_2403144.html). So that's -1000 compared to the +1000 promised.
They can opt out of creating those jobs in France. According to an article in a French paper the company has already told the French government they plan to opt out of the jobs they were going to create and pay a penalty. No jobs are going to be created in France now whatsoever. Flannery isn’t as high on Europe as Immelt was. Today’s news should be proof of that.
Time to cash in on that life insurance policy before they take it away!
12,000? That's about how many VPs, CEOs, Presidents, and other executives Stokes has reporting along his chain of command. Let's see how many of those valuable "workers" get axed.
Greenville is will be hit again in March
And the blind squirrel finds his nut.
This is the yearly Christmas present corporations large and small have been giving employees for years. It's more than anecdotal scuttlebutt that for some ungodly reason those that get to keep their jobs are often the most unproductive stealth parasites in the organization commonly known as clock padding weasels.
The loss of a living wage job in your 50s is tantamount to a death sentence. It will require many to run through savings, if they exsist at all. It will also necessitate a drastic change in self-image as one struggles with the daily struggle of walking a daily economic tight rope.
The propaganda from are present leaders tells us that corporations will be benevolent and create more "good jobs" if given the right monetary incentives. One only has to do a cursory Google search to know that once jobs are outsourced they anin't never coming back Shane. Not when average hourly pay in China is $3.60 an hour and 20 cents an hour in god awful Vietnam.
For the corporations it isn't about patriotism it's about seeing employees as headcount. So cheaper heads elsewhere will do just fine.
So put away your pride good employees and go to the local supermarket chain and start bagging groceries if need be. The thin line between civility and the jungle has just revealed itself.
Now it'about survival nothing more, nothing less.
This is devastating to those over 55 that have made it a career out of working at GE. All the Executives give a damn is their stock options, perks and d---s shoved up their asses by their minions.
Agreement GE signed for Alstom requires then to create 1000(?) jobs in France. So, not too bad to be working for GE in France.
Well played French government (& minister for Industry, whatever his name is)
I’m sure Greenville and Schenectady are top of the list
0 in france im sure
there are no words to describe the dire situation. Unfortunately, the executives are only seeing numbers and share price...no people and families.
Sad day for everyone who is affected...as well as for those staying behind (because there will be another round for sure !!).