"The plant at the foot of Erie Boulevard in Schenectady manufactures steam turbines and generators, and has a significant backlog of work."
https://dailygazette.com/article/2017/12/07/schenectady-based-ge-power-to-cut-12-000-jobs-but-it-s-unclear-where
The real cuts will be based on cash flow which they are evaluating now for Q1.
The numbers will reflect the financials, unfortunately that are degrading week by week.
GE has a huge cash flow problem now partly due to too many facilities that are operating at low utilization factors.
They never should have built and purchased all the duplicate facilities that now compete with Schenectady and Greenville and are dragging down cost structure.
This is the worse I have seen it in my career. I would Hate to be part of the lower pay scale guys.
They cook the books on the amount of work they have just like they do at corporate in regards to the company finances. Get out before there is more competition in the work force.
GE was supposed to cut $2 Billion in cost. Last week the number went up to $3.5 Billion.
I am afraid that this may be optimistic and very herd to remove that amount.
GE stock is now around $17 and may go to $11 to $14 if they don't show cash improvements soon in Q1. We will see what happens in Q1 but am worried it will be worse than expected.
Work load is down but so is the workforce. TLows likely and flexing
Its not only sales that are affecting Schenectady.
Of what units are sole, production over the last five years has been split between Schenectady, India and China facilities. Schenectady used to make around 150 generators a year but that number has tanked because of all these duplicate facilities.
Other facilities are not making money because of high overhead and low utilization factors from this split. Now costs are high because of this and Power income dropped by 60% wih lousy cash flow.
I have visibility to Schenectady future work load. In my 15 years in GE I have never seen such a reduction in unit sales. Work is drying up quick.
backlog of work but guys are getting move from stack pit and the windstand to the barshop lmao there will be layoffs in schdy. union is meeting with company tomm.