And yes, their favorite way to save money is by laying off employees. It's a shameful short term fix that winds up costing company more in the long run. I wonder if they know about any other way? More than half of global layoffs will be in US. And it will start in Schenectady they can predict all they want. The stator bars and rings and other parts are being stored in a storage facility near by. 250-300 employees will be running the bar shop. The other work will be sent overseas
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no one i chatting about buildings gens in India or China for the US markets, I'm talking building them there for there
Well I was specific and once again they deleted my post. That dont like facts on this forum I guess. Pity.
Of course there will be more layoffs as more and more work is shifted to low budget / third world countries like India od China.
It's smart to fabricate in those countries but charge the US Price!
How does it end bad for multinationals? Be specific
Of course there will be more layoffs. Letting the CEO renegotiate his contract where mediocre performance is greatly rewarded does not come without cost. The only question is: How many employee layoffs does it take to cover a $40+ million bonus?
Many jobs are being sent overseas under the cover of Covid-19. Many are sent to India. Why not most of the salary employees are from India. Also with head of aviation and healthcare both Irish citizens how long before power gets a foreign CEO. You must understand GE is not a US company anymore but a global company. Culp will just embrace this globalization so we are in for many more layoffs in coming years.
@OP+18Cgvvsv, I agree with you other than it "cost more in long run"? How? And please don't dump on other countries (human beings just like us) when responding. I worked for a global lighting company once. We had over 1,000 people making castings in US. Outsourced it all to China, with the cost being 50% of Us made. All of us employees said it would never work. Heck, at 50% on the dollar the Company could throw out half of the casting and break-even. The reject rate was high in the first few years but settled down to less than 2% thereafter