Big layoffs in May there will be 350 hourly heads are getting cut at the 301. There is no work globally it is going to be bad.
Any more info on this?
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Leadership will have to take unprecedented actions to try to save entire company. Do not be surprised if parts of the business thought safe have actions taken on them.
Unfortunately there are going to be big cuts to reduce Power overhead by $2 Billion.
I believe that will not be enough, since GE Power earnings are dropping again from years of bad management. They will have to lay off a lot more people
The pension is going down the toilet this time doesn't matter what anyone says. It's the logical outcome based on suppositional fact and prima facie evidence.
http://www.goerie.com/news/20180407/ge-on-track-to-end-erie-locomotive-production-in-18
FAKE NEWS.
Is it too soon to start a thread on the June layoffs?
PENSION FOR UNION EMPLOYEES CANNOT BE TOUCHED UNTIL 2023 CONTRACT.
My buddy works in Alston so I'll be all right. It's who you know.
Heads up GE is going to layoff 301 union workers in May be ready
Long live Alstom
Not sure what is meant by pension cut. A pension termination won't happen as GE would have to come up with a lot of cash for all those in the plan currently. But GE has been considering a pension freeze for awhile. That means no new contributions to plan and benefits remain same but won't increase. Usually plan replaced by 401k going forward.
I would get your resume ready and start sending it out just to be safe. You never know.
Pensions will be cut big this time is not fake.
I usually don't pay much attention to rumors, but this was mentioned by quite a few people, so I'm starting to wonder if there is some truth behind it.