Thread regarding General Electric Co. layoffs

The CEO is ready to start chopping heads. A piece of this article I came across-

Well I think CEO is about to make some major moves in Power very soon— I could be wrong but it does not look promising at all.

GE's power business has been losing money and is the top priority in Culp's efforts to turn around the company.

"No business consumes more of my time right now," Culp said.

Culp also affirmed on Thursday that GE expects negative free cash flow in the second quarter, and said GE's power division plans to cut costs by about 20% over the next two years as it tries to become leaner.

Culp said GE cut $800 million in costs at the power unit last year, and has plans to cut another $1.6 billion.

I don’t think the CEO will be stalling anymore this year in Power.

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Post ID: @OP+ZjQSLHf

7 replies (most recent on top)

Why doesn’t the ceo notice the problems here?

Starting with CEO salary and bonuses!

Salary pay from the top of the chain down!

The Hourly union workers get the shorter straw every time. The skill and experience and dedication that was developed at GE in Schenectady is lost! People want out bad but are afraid to leave. I am buying my time and lining up my ducks before I.

A)- get a pink slip

Or

B)- walk out the door with useless information and job skills to offer another company.

Either way it is a win win after watching this place in shambles. It is such a clown show here from the union leadership to managers running this place into the ground.

Good Luck with this $1.6 billion in cuts coming to Power.

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Post ID: @1yyh+ZjQSLHf

Please conduct significant hourly//union layoffs ASAP, need my stock price to rebound.

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Post ID: @1kgx+ZjQSLHf

They have been chopping heads since 2017. Has any one seen any improvement?

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Post ID: @1opu+ZjQSLHf

They still need to get rid of at least 3/4 of the Officer, SEB, EB level do nothings. Amazing to see in the org chart multiple EBs without their own direct reports. Time to reduce the hierarchy and save some money

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Post ID: @1eys+ZjQSLHf

I’m curious.... when are we going to put a halt on CEO pay? Everyone knows they are paid way over their market value and do little to no work....the gift of gab and newly created buzz words that the non leaders use to try and follow .... ???

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Post ID: @pew+ZjQSLHf

Power cost too much money to operate. Plain and simple. People flocked to GE because it paid so much better than any other place to do the same job and at time, to do even less work. I've been wondering for a long time, how can GE afford to keep paying for all of this? The obvious answer is that they can't. I don't care what you believe or what the unions tell you, they will come after our hourly pay and get what they want, one way or another. Be prepared because if not, it's your fault. There has been more than enough warning.

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Post ID: @cia+ZjQSLHf

https://finance.yahoo.com/news/general-electric-ceo-says-efficiency-184005081.html

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Post ID: @myy+ZjQSLHf

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