For those that made it thorough the interview process and were saved by the good old boy network. You make need to brush up on your golf skills and rub elbows a little deeper for the next wave in Q1. The spare unit has dropped again and units are being canceled. It obvious that the interview process was just a form a legality to make it look like a fair process.
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It is true news that GE had a layoff list prior to the interview process in Greenville. Using the term GE uses behind closed door, "it's for optics". GE's optics is not very good these days.
Troll post
If you don’t like the good old buddy network leave GE. There’s nothing you can do about it.
@1sso, I agree!! I understand layoffs have to happen sometimes. When they do, at least GE should be fair about it. The buddy network in Greenville is unbelievable and needs to be removed. Very unethical! It's like having a secret society within a non-union plant.
The good old boy network in Greenville needs to be dismantled! I overheard a small group of “buddies” laughing about some of the layoff victims. They found great humor knowing that some were in their confidential discussion meeting while confidently knowing they would survive again. And some were intentionally on “permissive time” together during the execution of layoffs.
Effect on payroll this year Q4 will not be affected by layoffs, so they will happen in Q1 2018.
This is because of the four week notification at minimum and severance to get off payroll time. GE stock will tank down to $11 to 14 according to analysts next year, especially of Q1 numbers don't close with improvement. Q1 cuts will be huge in an attempt to shore up the Q1 numbers because of this Q1 stock price issue. Unfortunately GE Power is in a downward spiral because of mismanaged cash flow which was 60% off from what management guidance.
GE has to get $3.5 Billion in cost cuts which is huge and hard to achieve. In the meantime, they are screwing up the service business with the FieldCore disaster and losing lots of service business, alienating customers, and now don't have the service engineers for the spring outage. GE Power six sigma slime management fired all of them and told them they could come back to work for their temp agency FieldCore. We heard 40% just walked away and now customers are going to competitors and people they know and trust for their units.
Parts sales will tank, and as FieldCore loses money and costs spiral as they try to get new workers they will layoff more in he product departments to make up for it.
Bad decision after bad decision is destroying GE Power cash flow
Units are in the single digits. Spares dropped last week. That’s why some of the movements were put on hold. It will be a good day when some of the senior leaders are out the door also. The business will see that they assembled the wrong baseball team.
For hourly employees the TLOWS are going to become layoffs in Q1
Spare unit. Is it down to worrying about a single GT?