Heard a rumor that Larry Culp asked Kieran Murphy to reduce the GEHC headcount from 40k to around 30k.
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If you haven't yet read it, read "Lights Out: Pride, Delusion, and the Fall of General Electric," which came out his past July.
https://www.amazon.com/Untitled-Houghton-Mifflin-Harcourt/dp/0358250412/ref=sr_1_2?dchild=1&keywords=lights+out+ge&qid=1606443991&sr=8-2
"'Lights Out' examines how Welch’s handpicked successor, Jeff Immelt, tried to fix flaws in Welch’s profit machine, while stumbling headlong into mistakes of his own. In the end, GE’s traditional win-at-all-costs driven culture seemed to lose its direction, which ultimately caused the company’s decline on both a personal and organizational scale. 'Lights Out' details how one of America’s all-time great companies has been reduced to a cautionary tale for our times."
GE worker of over 25 years. They offered early retirement buyouts at GE Healthcare OEC in Salt Lake City this week. They said that they wanted to reduce the test department by 30%. The hope is that they buyouts will cover that number.
Whatever happens on I am not gonna waste my life hating on the newbs. No one took my job it is the GE leaders. Yeh course new gonna have less experience but nothing is forever I guess. Got to watch out always company bottom line. Watch out Q3. Saving my pennies just in case.
The reason for the layoffs was to move people to the' field' or 'Chicago' in the brick and mortar to make decision making 'faster.' But Operation Ranger seems like a dead end. Hiring (2) field people to every (1) Tosa EE with little to no experience, and, little to no backbone to push back to leadership. People leader positions filled by people who aren't people leaders. Tenure and experience gone, but, hey, maybe we hired people at a cheaper rate. No wonder Siemens is eating GEHC imaging's lunch every day. His minor league ERA didn't get him to the Bigs, and, his decisions here aren't gonna help GE win either.
The CISO circus can be shut down as well. All Directors and Sr Directors should go first. Others should be asked for justification to keep their jobs.
Seems reasonable as it would be aligned to GE Aviation 25% reduction as well.
Let's hope it is just a rumor and not fact.
Still some fat left to be trimmed. Easy to eliminate the AE team in its entirety - this would not impact sales. Still a ton of redundancy on the imaging side not supported anymore by a tired and aged product line. Big mistake going to 5 "markets" with redundant functionality in each market - 5 "presidents" and "vice presidents" - seemed like a good idea at the time but now need to pivot and blow this up again. Beginning to think the new guy is like Flannery, in way over his head. Still some hope here but need to bottom out and we're no where close.
Layoffs are ready here. Detroit just got rid of all HC at the site. Wisconsin has shed about 200. Bio-Pharma people out soon and imaging is being cut big time. Coming up are the shops and consolidation cuts that could be some big numbers.
Can you say why you know this is not a rumor?
No rumor. The 2nd quarter earnings report is July 29, 2020 and it won't be pretty. Culpable has to throw Wall Street a bone. Major cuts coming in 3rd quarter. Hold on to your wigs.