Thread regarding General Electric Co. layoffs

@8ohh I think they know their comments are stupid and they are okay with that. "I have an opinion therefore I am."

Fire Russel. Announce business leaders now. Close Belfort as soon as possible. Sell Power Other as soon as possible.

I have never seen so many id--tic comments - gas is the only part of power making any money, and nearly all of that services../

Of course it is, ditch everything but gas

The best for GE is to ask TRUMP to accept doing business with IRAN, where we have chance to get commercial offers.

I'm in the "other" and work in a legacy Alstom group that actually makes decent margins - which gets s---ed away by the sinking mother ship. If we get sold, it may not be great, but GE is one eff'd up internally focused and process heavy company that is blind to its customers.

"Gas products & services businesses into one unit and Other Power businesses into a second unit"

Meh. Not the kind of thing that will bring clarity to Gas products & services. IMO new unit and services should be split. New unit sales take too much credit for future spare parts business and hence leads to the wrong thinking. Services is much smarter about cash flow and timing but can no longer service the debt created by new unit development. Note this isn't a technology split. It's an accounting split, renewables and legacy tech alike have the same "aggressive accounting" problems.

Combine cycle is still the future of powerplant orders and services. In my opinion you still need both steam and gas to work together to make this work in a future high cycle market. I feel this move is to micro manage each business separately to make them more efficient and to fix the issues (especially in gas) under separate leadership reporting to Culp, while at the same time the long term goal is still combine cycle (gas with a steamer). No opinion on nukes other than servicing. Get rid of Alstrom all together in my opinion and concentrate again on legacy as well as improving legacy. I believe all this is possible as long as we can get through this very tough period without having to dump power all together. At the end of the day...worst case scenario power is sold off to a promising competitor or company. Who knows, maybe that would benefit the employees better than the current situation. Good luck everyone.

I heard on the radio that this doesn't look good for us in Schenectady.

Nuclear has NO future in US or in North America for that matter. The only action is in China, Russia and handful of other countries. GE will never be able to compete with these government subsidized foreign companies to win a contract. Gone are those good old days of 1970s or 1980s. It makes good sense to get rid of nuclear if a buyer is interested. Does not impact employees, they will simply transfer to the new company.

NRC regulations don't allow for any foreign entity to hold a NRC License. Only another US owned company could buy any portion of the nuclear business. That narrows down the field. its one of the few Power segments that makes money, not much, but not losing.

Nuclear has a more viable future than the gas turbines business. So expect GE to sell nuclear and keep gas. What a company.

Nuclear also has export controlled components...can’t just sell this to a foreign entity....

GE Steam Belfort (Alstom's legacy nuclear business) has 10 years of orders ahead : https://www.ge.com/reports/full-steam-ahead-egypt-picks-worlds-largest-steam-turbines-ge-new-nuclear-power-plant/

"In addition to the U.K. project, their docket includes contracts for turbines and other equipment for new power plants in Hungary, Finland and Turkey. And their plate just got fuller. On Tuesday, GE announced that it won a deal to supply four turbine-generator sets, including four Arabelle turbines, to Egypt’s El Dabaa nuclear power plant. "

My brother works for GE nuclear and he says settle down Captain Happy.

If the folks at nuclear are panicking it is for good reason. They industry has been in a deep slump for decades...and there is no reason for GE to hang onto it in these financial times. Run, run away!

There's more than one way to skin a cat.... If the French want to play hardball, it looks like Culp is getting ready to play. Dumping Alstom alleviates alot of issues at once. Whatever happens wont be good for the Alstom folks, or the GE Power folks in the discard pile.

My sister works at GE Nuclear. She said everyone there is in panic mode. The nuclear plants are closing and her coworkers think major layoffs are coming. Anyone know anything?

@1msr bingo!

What about all the employees already laid off ? Any future call backs on the horizon like the unions preaching to happen come Jan-Feb?...

Why would

You sell the GT piece, it is the only part of

Power that actually has potential to make any - the “Other” piece is a big fat zero....

If Culp has vision he will sell the GT piece and keep the rest of service and sw heavy business. GT biz is metal and spare/services. Declining business. Growth will come managing the metals and connecting the to grid. Between ge and Alstom grid they control most of world grids. Adding distributed generation sources like wind, solar, battery, fuel cells etc will change the world of electricity in decades to come.

It’s like investing in Borders or Amazon kindle.

Where does that leave generator

This is just one guy's opinion, but I have to think this is a preliminary step before divestitures. I read the descriptions of the two divisions as:

1) Gas turbines and services.

2) The portfolio GE doesn't want to keep.

Since Part 1 doesn't contain much legacy Alstom, could this be an attempt to undo the deal?