Thread regarding General Electric Co. layoffs

GE Appliances thriving under new management

It is quite ironic that now that the old GE management has been replaced by Haier GE Appliances is thriving. All what they needed is a good management.....

https://www.bloomberg.com/news/articles/2019-02-08/six-sigma-gives-way-to-rendanheyi-at-ge-s-appliance-business

by
| 810 views | | 3 replies (last )
Post ID: @XxiHTT3

3 replies (most recent on top)

The Appliances business was never really broken. It produced a tremendous amount of cash flow but leadership was only concerned about the margins and for years failed to invest in the business. Only in preparation for selling the business did they invest in updating the products, factories, IT Systems and ways of working.

The new Chinese owners also have been very smart at keeping the majority of the Appliances leadership who knew how to run the business in place while providing hope to employees of a longer term place to grow their careers. They have invested in the business and have not done massive intervention/ head count reductions as they realized that it is the employees who are the reason for the business profitability not just the executives.

As GE Leadership chased potential higher margins, they disposed of positive cash flow businesses which had been starved for years of basic levels of investments and now because of the lack of cash flow along with debt levels from poor acquisitions and dispositions by buying high and selling low they have no other choice but to sell off even more pieces of this once great company. Hopefully, there is a future.

by
|
Post ID: @XxiHTT3-3tsm

@XxiHTT3-hhw:

GE is not focused on shareholders. GE is focused on maximazing the amount of money that the upper management receives.

by
|
Post ID: @XxiHTT3-2awm

interesting, focus on employees and customers. GE only focused on shareholders. even now with Culp it is a struggle for him to acknowledge that there should be a focus on employees, seems like an afterthought. biggest asset in any company is always the employees

by
|
Post ID: @XxiHTT3-hhw

Post a reply

: