Thread regarding General Electric Co. layoffs

Uninterested in a fight, move on and debate.

Why do you think Culp is here? You think he's worried about your fat worthless union behind?

Yes, let’s both move on, it is what it is, lets stop counting the sheep so shooting the moon is not missed in the future for all, including you Mr. Investor! Have a good day.

Excellent below! Yes, lets move on headcount, wage and benefits cuts to make things sustainable in the future

"No, not suggesting the shareholders should be willing to absorb losses NOW, they along with workers are experiencing losses as well, it has hit all 3 parts of this company who it started being noticed about 15 to 20 years ago and now the company must move on and make the best of salvaging what is left"

No, not suggesting the shareholders should be willing to absorb losses NOW, they along with workers are experiencing losses as well, it has hit all 3 parts of this company who it started being noticed about 15 to 20 years ago and now the company must move on and make the best of salvaging what is left.

Are you suggesting that shareholders should be willing to absorb losses instead of insisting on cuts to return to profitability? NO ONE wants to address my position! I agree, in bad times if you have clear line of sight of demand increasing in the future, shareholders should ride it (short term loss for a long term gain). But we are talking about Power and demand it isn't coming back to pre-2015 levels. I as an investor DEMAND deep cuts in Power. I feel differently about Aviation which will rebound. My position isn't anti employee/union, it's reality based.

Has not a thing to do with an emotional feeling “you owe me”. It’s all about the balance in the 3 parts of a business. Shareholders, like workers need to be completely and fully informed. However, today the race for shareholder profits has left workers in the dust. (many studies). All 3 parties must be equality satisfied or it eventually becomes unbalanced. Back in Grandpa days not only were all evenly balanced but changes were made quick and smooth to keep up with the ever changing products and supply and demand. Times have changed but not for better for any 1 of the 3 parties here.

The shareholders do care about the core. If they cut too deep they can't meet demand when it rebounds. Executives would be fired! Lay-offs are always limited to maintaining the core in anticipation of future. Such demand (returning to or above 2016 levels) won't be happening in Power, period. Hence they have an OBLIGATION to cut staff and cut deep. Those that can articulate a business case (not you owe me case) are welcome to debate my post.

Precisely the problem! You almost get it, you just need to think a little deeper to understand fully the connection. Yes, the core of the foundation is cracked and it will continue to crumbled because the shareholders care nothing about the core just their return on their investment and the company doesn’t seem to care about it’s core either which seems to be a problem. Just think, if the company did care about its core, they wouldn’t have to worry so much about satisfying the shareholders return or satisfying its core workers. This should be simple enough for you to comprehend the connection of problems between all three parties. Have a wonderful day!

Only a complete buffoon would make an observation like that. You have to be deader than a door knob to even remotely state the GE cares about it's shareholders. Does the stock price reflect that GE cares about it's shareholders? Have GE employees taken pay cuts of the order of cuts the shareholders have been dealt?

The company belongs to the shareholders. Not the employees. Get your fundamentals right.

@1qjl+17JDloWA, the only lack of understanding I see is yours, we are talking about the workers at GE not someones grandmal’s pension outside the GE company. According to you, don’t build a healthy company foundation within like grandpa’s generation did in order to pass something to my generation? If you believe GE workers need to sacrifice their job and pension for the good of the economy and knowing it will undermine the welfare of the next generation, hope you are leaving your kids an inheritance.

1qjl+17JDloWA Must be drinking that kool aid again.

In 2015 Culpable held 2.4 million shares of Danaher stock. It is unknown now how many, if any, shares he owns now. In 2019 he sold GE Pharmaceuticals, a very profitable arm of GE Healthcare by the way, for $21 billion to Danaher. Yes it paid down debt but it also boosted Danaher's position I would think. Danaher stock has almost doubled in value in a year.

Culpable has also been given a new contract extension.

Culp will earn his $230 million windfall if the shares reach $16.68 within a few years. If they only get to $13.34, roughly 10% above the mark when he became CEO, he will take home $124 million.

GE stock is gaining strength through cash flow and debt reduction. So layoffs, pay cuts, and other personnel reductions are imminent. After all, some person has a very high stake in the stock price.

@OP+17JDloWA, this post shows an absolute lack of understanding of the economy. Large investment houses own the majority of stock in companies. Their biggest investors of their's are usually pension funds CALPers, NYSLRS, etc. That means maybe your 85 y/o grandmother. Without corporate income, pensions are at risk. So, yes when earnings decline, especially when they change to net loss, cost are cut, usually that means layoffs. If layoffs aren't done to cut cost to increase income, then they are to fund underperforming pensions! It's a non-win game. As I see GE, non-renewable energy units are yesterdays news. Layoffs in Power make sense. In Aviation not so much as that work will return someday.

Funny part about is, they are covert about it, but the some of biggest advocates to cut cost are the very pension funds I mentioned above. On the flip side they do push back of exorbitant executive pay as well.

This is not your dad or grandpa's economy. Other than working in the trades, the days of $ 35-40/hr jobs in manufacturing are over. Employees can recruit folks at $ 25/hr all day long because that's $ 10 more than the alternatives...Wal-Mart, Amazon, etc. and automation is eliminating many value added steps workers performed before further driving down wages.

I don't like any of this mind, I have young adult children, and they will be first generation that will have less a an economic lifestyle than the previous generation. Sad, but that's the reality.

Dumb question but they might value employees is we work for free and get rid of the 301

NO!