Thread regarding General Electric Co. layoffs

More layoffs and restructuring for Power

A section From the Bloomberg article about an hour ago

Already, GE has taken about $6 billion in restructuring and other charges net of tax for 2017 and 2018 combined, with most of that coming from the power division. It reduced its headcount by 10,000 last year. And it’s far from done. Culp said increased restructuring expenses at both the power unit and corporate headquarters will weigh on cash flow this year. Other factors that will have a dampening effect include the reversal of tax-credit benefits in its renewable energy business and Alstom pension contributions and legal settlements. Culp deferred giving specific guidance for 2019, saying only that cash flow will “grow substantially in 2020 and 2021.” The problem with that statement is the lack of context. Grow substantially from what?

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| 2937 views | | 6 replies (last February 6, 2019) | Reply
Post ID: @OP+XtfKcia

6 replies (most recent on top)

"Our loss is Wall Street's gain."

What a truly mo--nic and id--tic statement.

You don't know shiiit from Shinola.

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Post ID: @1dqn+XtfKcia

Culp is new to Power... execs are hedging that by 2020-2021 the power cycle will trend upwards and orders will pick up again. He is looking at past research. But its also a very naive statement - we are making dinosaurs, cheap alternative energy sources are on the rise and a dime a dozen, many customers are looking to pursue this option and waiting it out. I think this is laughable. Culp is just drinking the GE koolaid.

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Post ID: @1zbl+XtfKcia

@XtfKcia-bte... It's the union you can thank for the job combination fiasco, I would like to know what the hall gave up to get this passed. I guess we'll find out at contract time.

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Post ID: @1vvm+XtfKcia

Well it wont be at greenville. Machinist are being recalled and mau workforce contraftors have been added

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Post ID: @1uqf+XtfKcia

Our loss is Wall Street's gain.

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Post ID: @hxv+XtfKcia

I’m so glad the power manufacturing facility I am employed at for now made some stupid job code changes. It was suppose to keep us employed but I bet it does not save any jobs. Good Luck to all.

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Post ID: @bte+XtfKcia

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