Power business is down and company in a down turn in general. But... The cuts being mostly in Europe helps the U.S. get more of the work. As Europe was a supposed threat to getting our orders.
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In a town hall meeting last week it was stated the 12k was through 2019. That being said, I agree with the other posters that we might see that number increase 2 fold in 2018.
You are not the only one that thinks 12K cuts are too small and the number will be at least double.
This is because of the Alstom Europe mess where there is almost no need for 60% of their capacity to serve the combined GE and Alstom new unit sales. Greenville and Schenectady capacity plus one smaller facility could provide even record sales of new unit manufacturing, except for limitations in generator production which could be farmed out like during the boom of 1998.
Now GE Power is stuck with many new facilities they built in India and China in addition to Alstom UK, Germany, Switzerland, and France that are all underutilized, high cost facilities. This is why GE Power is not making money anymore and has lousy cash flow
12K workers is overly optimistic. GE Power needs to get rid of all these duplicate facilities, including Atlanta
Am I the only person that thinks 12000 is too small? Should be 22k if we really are going to position ourselves for future forecasted best-case workload. I expect at least 10k more layoffs in 1Q.
I believe that 4500 is separate from the 12000
How are the cuts mostly in Europe? 4,500 in Europe out of 12,000 globally. Most are not in Europe.