Story at:
http://www.star-telegram.com/news/business/growth/article185786343.html
Sounds a lot like Sears/K-Mart. The downward spiral. Bet executives are still receiving bonuses, too.
The Ft. Worth plant is only several years old and GE got a bunch of taxpayer money to build it. Time for a clawback? Wham bam thank you ma'am.
Yes, I agree! They built Texas to show Erie, the big FU. The company wanted just way too much in consolidations from the workers. The union said NO!
I blame both the company and local 506 for this situation here in Erie, PA. I am actually sick of both groups. A lot of stuff the union won't tell you and visa versa... Employees are left guessing.
GE cost savings plans by building new plants GE Power in India, China, transportation locomotives, and Global Research several in India have only driven up costs significantly and is now bleeding GE parent company of cash flow.
These were all bogus cost savings to abandon old manufacturing centers, and even manufacturing. Now they have to buy most material, and ship and handle it all over the world. In many cases, here is more labor and cost in just shipping and handling.
GE has also lost the technology edge and expertise by not even making many parts anymore.
This brain drain has been devastating to their parts and service business.
It was an FU to Lynn, MA. The union didn't want 2 tier wages, with the new hires making half on the older workers, so GE being GE cut off their nose in spite of their face and spent millions on a new facility when for the sake of wage considerations, they could have used existing at Lynn. Why isn't Immelt in jail?
Old news. Wasnt The TX plant supposed to be the companies big FU for the union plants in PA?