http://www.timesunion.com/business/article/GE-s-Flannery-making-GE-leaner-exiting-lighting-12352695.php
We will see how this shakes out in SCHDY
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Either way Flannery is the man, and Stokes will make the best choice for the better of the business no matter who gets the ax. Long live GE
There is going to be a consolidation of manufacturing, so there will definitely be job losses in SCHY and Gville. More in Europe than in the US but it will be ugly on both sides. White collar will also get slashed as the NPI budget shrinks. If you’re not working on a funded NPI project, you are in serious danger of layoff.
Sounded like $1b in Sch'dy alone which was misleading.
Cuts IMO, will be mostly white-collar since net profits was the main problem.. -51%
Blue-collar cuts, if any, will be based as it always has; on how many orders they get.
Bloodbath
actually according to Jamie the $1 billion FY 2018 cost out is "more north of that" ..using her words. As for how much will be Schenectady ? Who knows..sounds like more cost reductions are required. Also, the Alstom deal looks to be a really bad performing deal. Per Stokes, and a late question from some stock analysts.. ..more EU country cuts will be coming for Power.
The title isn’t misleading 1 billion in Ge power