Any idea how the pension is going to maintain its funding after the split? How come I have this bad feeling that all of us GE Power people are going to receive much more than just a name change once GE Vernova goes active? If GE Power is no more after the split, then what else is no more? Seems to be that Healthcare and Aviation get to stay the same and break their ties from the black sheep of the family while it gets lead to the sl------r house.
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Post from TheLayoff.com
But what about a person that will retire before the splits. Who owns the pension then? Does it stay as "GE" coming out of corporate or will it be reassign to that of the new world order: GE HealthCare, GE Vernova or GE Aerospace the division that you used to work for.
the pension liability will be split based on where the employee is as of the divestiture. if you are in Healthcare as of Jan 1 or thereabouts when Healthcare is divested, the liability related to your pension will be moved there.
Big reductions for Schenectady take the money if offered and run. That’s my plan I’m sure the bright ones will stay and hope for the old GE to return. Ha Ha
As long as this is a means to an end to get rid of the hourly im good with it.
Plant closings, SERO’s, VRIP’s may all be in play, but only if it benefits the company!!
I would expect a buyout or a few rounds of it. Each round is less lucrative than the previous one. It's better to take a package than to end up with nothing.