GE expects second-quarter free cash outflow to be between negative $3.5 billion and $4.5 billion, wider than analysts' average estimate of negative $2.5 billion.
The company expects commercial jet engine installs to fall about 45% in the second quarter, with sales of aircraft spares declining about 60%, Reuters said.
More layoffs in the 3rd Quarter?
https://nationandstate.com/2020/06/30/airbus-to-cut-15000-jobs-as-no-recovery-expected-until-2023/
“For the next two years – 2020/21 – we assume that production and deliveries will be 40% lower than originally planned,"
=less engines, more layoffs
"Culp also said in his presentation Thursday that “a third to half” of the cost and cash actions that have been taken would be permanent, based on current expectations of a slow recovery in the aviation industry, and that he will push for more of the actions to be permanent."
I don't like how that sounds. Hold on to your wigs!
GE really can't survive for long with the cash flow and debt issues they have. Stop fooling yourself. Why do you think biggest stockholder is getting out and Buff won't invest. GE will shrink by 35% in 2020 and try to hold on for a couple more years. Company will break up into separate entities and maybe survive as holding company at best.
B-A-I-L-O-U-T
The question shouldn't be if there will be any more layoffs, but how long can the company survive with negative cash flow like that.
I certainly hope so.