Significant layoffs taking place in March 2017. Almost ALL contractors being let go, non principal engineers at or close to retirement being encouraged to leave. Internal technical support staffs being cut significantly. Facility contractors being reduced as well. This is throughout the GE Power footprint, as a result of a significant financial target miss.
56 replies (most recent on top)
To the engineer laid off after 4 months: sorry to hear that. The company always lays off enough young employees to balance out the older ones. It helps them avoid age discrimination lawsuits. You probably got caught in that.
Probably brought about from missing targets and the effect on his bonus. Interesting story:
http://finance.yahoo.com/news/ge-chief-jeff-immelt-added-195300892.html
GE wants to hire new talent- that is a laugh! How about hiring a new young highly educated engineer - relocating this person from an area he/she had settled in and from a job and company he/she was stable at. Soon to be wife had to uproot from job and area where family was at. Bought a house, wedding planned - laid off yesterday with just 4 months in.
Now, now, my precious employees. Uncle Jeff here to try and explain the situation. You see, we had to let a few of you go. After promising a $2 billion cut between 2017-18, and a 40% cost out on parts, well frankly there's nowhere else to cut but the very people who make this company great. Not to mention the Alstom deal wasn't quite the sweet fruit we had hoped it was - that's my fault and I'm so sorry about that. But you folks blame it on Trump, etc and don't you worry about me. I'll be just fine and dandy! In fact, I'm packing my golden parachute right now!
Amazing how this huge layoff at GE Power in Greenville, Schenectady and Houston goes uncovered in the press! We are talking well over 1000 employees at these 3 locations. Where is the Donald to help us??
Power is a long cycle business. You can't build this stuff overnight. So layoffs were doubtless planned some time ago. Orders must be way off. I went theough a few of these painful cycles myself. I sympathize with those who are affected.
Over 700 laid off today at GE alstom legacy Richmond and other places. Effective April 22. Get your resume updated soon
Hearing this is the first round of many more layoffs to come at the new GE Advanced Manufacturing Works at Greenville, SC. Very concerning!
Make America great again. Remember?
So far we are hearing over 300. It has everyone wondering when it will effect hourly and contractors.
Just wondering if anyone knows how many people were impacted at GE-Greenville today? Working at a supplier to GE has us worried we will also be affected.
Layoffs happening today. Spouse got it. Convinced they held layoffs until after the first of the year so they wouldn't have to pay bigger severance packages. Heard there were some in Schnectady today too.
reorg comes before layoff, not afterwards and engineers are worried that next year there will be more predictions that arent realistic. It will take time for digital to generate money and I hope that upper management understands that turbine engineers will be needed in coordination with digital. This cut will be cutting out meat and bones. There is no fat in our group, it is talent , brains and experience and we deliver and our manager spends his time making sure that we are managed enough but not too much. Yes there has been pain to get to this point, but we are going to give birth to programs that work and a system that allows programs to work.Please GE, dont screw it up now.
Schizophrenic company. Unloads dozens of female engineers then the head of Niskayuna Global Research, Vic, sends emails to remaining staff saying they need to have more female engineers since the population of the country is 50% women. Can't make this stuff up.
I believe the target that got missed (by surprise) was at GE Digital. Last summer Bill Ruh was announcing that GE Digital would generate $7 Billion during 2016, yet somehow their financial results didn't get into the Q4 2016 report. I wonder why not?
http://www.investors.com/news/ge-courts-silicon-valley-investors-for-digital-industrial-push/
My guess is that Bill continues to miss his numbers and Jeff has doubled down. Get ready for a wild ride.
Interesting,
But it sure isn't due to missing a target. Companies the size of GE don't make knee jerk decisions like that. They see trends coming way in advance, you might even say they're part of making them.
No, these layoffs were planned long ago, when they knew the cycle would turn. Now it has, and God help us all.
The "Recovery" was nothing but financial engineering and money printing. 99% of people are economics challenged, with no clue what's really going on.
They will find out very, very soon.