Another buzzword GE has been using lately is simplifying structure. Or Simplification. Definelty expect layoffs if you hear that. Then you will hear the "difficult decisions" buzzword. Managers are given detailed talking points that they religiously try to use.
Read this here @NZkmaz7-hal, and wanted to separate it to make sure more people see it. I can confirm this from personal experience. If you hear those terms being thrown around, especially simplification, layoffs are imminent.
Based on corridor rumors in EU the next round will affect the ex-Alstom employees as the most of them can't integrated to GE as they 'planned' before
@O0lcYNv-1smd. Thank you for the information. I did not realize people had extended official layoff dates depending on years of service. That pushes round 2 layoffs a little farther out past the 90 day WARN period.
@O0lcYNv-1oal. I agree that GE has been promoting the "simplification" buzzword as a key metric for years. During the last GE Power Layoff in March, GE added "structural simplification" as justification for the layoff. That is the first time I've personally witnessed GE tie simplification initiatives with a layoff. So both are true. GE has used the buzzword simplification for years for many purposes. But now, GE publicly stated simplification as a justification for layoffs.
GE's quote in the Greenville News after the March 2017 Layoff:
" As a result, we’re taking employee actions to simplify our structure."
not really true. GE has been talking (and acting) on simplification initiatives in the power gen division for at least 7 or 8 years...long before even any hint of recent widespread workforce reductions
People were notified in power for the last round on march 23rd. The layoff dates were April 21 for those with less than 10 years service, two weeks later for those with ten to twenty and two weeks after that for more than tweny years of service
@O0lcYNv-fnm, I read through the WARN document and you are exactly correct. The last GE Power Layoff was April 21st. 90 days after that is July 20th. GE will try to avoid the attention received by the media after a WARN notification requirement is made so I am confident we are safe for at least another month. After July 20th, all bets are off. GE wants to focus on cost resduction in the US this year. Next year will be Europe. GE will get major payback on Europe for handcuffing their lust for layoffs this year. Europe will have PAINFUL and massive head cuts next year.
Here is a fact sheet on the WARN Act, which management will work diligently to comply with in order to avoid triggering the notification and regulatory burdens.
Usually at least 90 days of waiting between layoff waves is done in order to reduce ambiguity and demonstrate clear compliance with the letter of the law.
https://doleta.gov/programs/factsht/warn.htm
I have to agree with you that June is almost over and I'm not seeing signs of an imminent June Layoff. My gut feeling is more head chopping will occur in GE Power before the end of summer. This is only a gut feeling as I don't have any intelligence on the scheduled date. Too many bad things are getting worse. Sales are without a doubt dropping, cost is escalating (turbine failures are not helping), and cash flow continues to get worse. NPI and other Capital Projects continue to be eliminated after the March Layoffs. A new gas turbine plant is operational in Saudi Ariabia that plans to build the 7H turbine frames taking work volume from Greenville. Customer confidence in GE is declining contributing to more lost sales. If Greenville has 3200 employees at an average salary of $75,000 that adds up to more than $240 Million dollars in base annual salaries alone (does not include payroll taxes, and benefits). How many turbines does Greenville have to sale to make up the Salaries alone? This doesn't even include the massive overhead of plant operational cost. Power bill alone is probably over $1 Million per year. These are all hypothetical numbers as I'm sure the actual cost to operate Greenville is a massive number. To make a profit, we have to sell many gas turbines. Someone smarter than me should take a stab at the actual number.
you guys have said forever there would be another round in Power in June and it doesn't seem there has been and June is basically over. How far apart are rounds of layoffs typically? The one in Power in 2013 was just one round. With the new CEOs won't that slow things down? I first heard about the March layoffs coming in early January.
Bad news