The Greenville Plant Manager said in March 2017 that there would be no more layoffs this year. He obviously lied as we are going through even bigger layoffs now. Also, he said this week that hourly will be safe from layoffs. That's an obvious lie because our work volume is projected to be so low. He lied to us because he knows he needs us at the moment and doesn't want a mass exodus. How many lies can he tell before being held accountable.
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If the Plant Manager is nothing but a high paid messenger then get rid of him. They could have sent us an email and saved his salary.
1 far outweighs #2 (order of magnitude difference)
You are very narrow minded if you believe Matt's staffing decisions are made by himself. As another poster mentioned, these are VP/SEB level decisions. The Greenville PM is just the messenger.
For years GE has planned based on sales forecasts that are derived from VP level metrics. There has been a disconnect between sales forecasts and actual actual sales with no accountability on the sales teams driving the numbers. That is now changing and GE's build values are on the super conservative side. They are now only building units for customers they know have cash to pay immedietly and have provided legal purchase orders to the company compared to building based on forecasts like in the past.
Matt didnt lie about not having additional cuts, he provided information based on the current outlook at that point in time based on a short term business outlook. Right or wrong, that is what happened. Instead of being angry at every little thing you can come up with, try being angry at the 2 root causes of Power's struggle. 1) the purchase of Alstom 2) the integration of energy conmections into Power.
They all lie! From CEO down to plant managers and down! Don’t worry it will All be over soon. Many will be out of a job(not career) by years end.
Happy Holidays from the GE Corporate Department.
Many employees have been or will be impacted by intentional reckless mismanagement of GE. GE has caused negligent financial loss and class action lawsuits could help recover some and send a massage they we ain’t taking this anymore.
My attorney said we have a strong case to claw back money from these parasitic leaders. We may proceed with multiple cases.
'Fiduciary malpractice'
Essentially, a fiduciary is a person or organization that owes to another the duties of good faith and trust. The highest legal duty of one party to another, it also involves being bound ethically to act in the other's best interests. A fiduciary might be responsible for general well-being, but often it involves finances – managing the assets of another person, or of a group of people, for example. Money managers, bankers, accountants, executors, board members, and corporate officers can all be considered.
The sad reality is that a lot of good people will be let go from GE because of the ego and financial mismanagement of the company's top leaders.
Alstom acquisition was an ego trip by Immelt , Bolze and Flannery.
Paparazzi , Elysee palace , being in the news ( see video below) and other trappings.
Two of the characters have left with their loot, and the remaining one pretends he had nothing to do with the deal.
https://youtu.be/Ozec3q6IlMY
His current lie is that hourly will not be impacted. We all knew that is a blatant lie as he said it. These dumb leaders need to practice the spirit of integrity and tell us the truth for a change.
Yet somehow, the deceivers at the top keep showing the Alstom acquisition as a net positive on the books. How long before that lie is admitted?
I say most of the current Power problem comes from the Alstom acquisition. Power purchased a company with 1/8 the revenue, twice as many people, and a 2-3 X cost structure as compared to Power.
You’re right, the Power business doesn’t change in 3 months, which is how we know Bolze was misleading employees and stockholders. After he walks away with his millions, we learn just how bad it was all along.
I don't believe the PM lied as much as the folks above him are playing finance games. The Power business was good under Bolze. The last qtr. Bolze was here, Power was a strong contributor to GE's overall earnings. Three months after Bolze departed, the Power business is in the tank. The CEO blamed the power business and mismanagement by Bolze for the stunning loss of revenue. All of this is a load of horse p--p. The power business doesn't change in three months. Turbines are long lead items that are several years out. This is a GE Power financial numbers playing game.
Don't know Matt but realize Power also told the board of directors, the CEO and the investment community we had line of sight to a decent year and unit shipment. So I guess the choice is they lied, they were surprised, or they are incompetent. I think he told you what he knew at the time and was wrong. By the way, Mitsubishi just cut their earning forecast by 30%, Siemens is laying off 6000 and closing some factories in layoff free Europe so this is bigger than just GE or Greenville.
It's funny you say that, I sold at $28. Except for my 401k which is a different story.
I hope you sold your GE stock last fall then... Lol
Exactly. GE folk are like turkeys waiting for Christmas to come round.
We knew the predicament GE is in since fall of 2016. Gas Turbines are very long lead time products and you are not suddenly surprised by a slow market condition. Maybe the combustion failures and it's impact on business was not expected (especially since GE Greenville spends so much on combustion testing). Cretonville should be closed. Their curriculum has obviously been a failure.
At least we have our Turkey ticket.... gobble gobble.
JMO
You act like you could have predicted the predicament that GE is in from March. His orders come from people above his pay grade.
Oldest trick in GE management handbook, cretonville 101
It's not a lie if you believe it.