Where?............................
How does it get to the point at which you have to lay off 12,000 people at once? Seems like there ought to be a bit better planning.
On the other hand GE is well positioned for co-generation, fired by natural gas. So the coal on decline thing may be overstated. Plus 12,000 people makes it sound like all at once.
Yes, the past CEO lost focus on GE’s core strengths.
I've seen other companies call it "smart sizing". And companies don't offshore their jobs, they "best shore" them.
Which country is going to get their gas turbine business? Like the ones they use in combined cycle plants?
GE is going the way of government motors.
They want to be an investment firm that makes things on the side.
Their GETS division has gone completely to hell over the last year. Word is they’re looking to unload it, because the shareholders say it isn’t profitable enough.
GETS (GE tranportation systems) is the last domestic manufacturer of diesel electric locomotives in the US, and that’s using the term loosely.
At least 3/4 of the parts for their latest locomotives are sourced from china.
The reliability of their latest product is horrible.
GE, bending over on order from lucifer.
Largely credited to former CEO Jeff Imelt - was hated by Wall Street for a very long time.
The money saved was transferred to GE’s 5 mile square facility on mainland China where it will be producing military grade jet engines for the PLAAF and PLAN
Less demand?
So when do the electric rates go down?
The CEO and the board members will get a big Christmas bonus so there is that good news.....
GE’s 115 year-old X-Ray Division bolted from Wisconsin to China (Ostensibly “To tap growth in China”) in 2011, following an elimination of almost all collective bargaining for most public workers in Wisconsin. I just feel sorry for the employees whipsawed by Immelt’s politics.