Many here making comments that suggest they think it'll be no problem finding another job somewhere else. Think so? Spend some time reading "Latest Posts" on this site, where you'll see this is going on everywhere, not just GE.
No, in all likelihood you won't just bounce right back and find another job if a company as big as GE doesn't even need you. Consider that one of the largest employers in the US and even the world, is laying people off, and they aren't the only one, not by far.
Ask yourself, "if the largest employers in the world are laying, off, could it be there's a reason?"
Yeah, takes a brain I know.