Things are shrinking in Europe - there is more work in Asia.
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GE is moving back office functions to Budapest. GE is an acquistions and divestitures company, not an industrial digital company. Alstom integration is nearly complete then multiple layers of the workforce will lose their jobs.
Immelt when is the share price going to rise to pre 2001 levels when you took over?
Seems P&W and the Alstom integration has finally made RIF decisions. As of yesterday 3 ppl were laid off in the ATL location . Targeting older age and the highest paid, also ppl unable to for one reason or another can't physically make it in the office 5 days s week. Even though these ppl were approved for FWA... I read an article that talked about RIFs released yesterday but did not include news of North America....
It's not only Europe that is hit, they are hitting North America too - it's spread between divisions
Too big maybe.
A drop in the bucket, GE IS BIG