As a former long term GE employee who was "eliminated", I can tell you the fear is real. I lost my job to a "pet" who was (and still is) riding a leader's coat tails. Many in the org (and even outside) know who they are and the rumors that go with their promotions. It will be interesting to see if #METOO stories come out now that jobs are getting hit too.
To those of you who have devoted your careers to making the moves and sticking with GE, I assure you, there is life after GE. Yes, it is scary and uncertain. Yes, change is hard. Yes, who wants to start over at this stage? I know I am just words on a page but I know for a fact there are good jobs outside of GE and life is better with out it. Aren't you worth it?
There is a real kool aid effect at GE. IMO, there is an imaginary pride and even arrogance that starts at the very top of each of the businesses. If they are so good, why is the stock in the toilet? The c---y attitudes, the swagger, the endless spending, the image, the clothes, the cars.....frankly, the working employee now resents these leaders. Back in the day when GE was kicking butt, this was acceptable and maybe even legitimate. GE WAS once the best of the best. They produced and attracted some of the best business leaders in the world. I am not convinced that is still the case. The quality of management that I worked with toward the end of my career there was based on one thing: Who do you know? It was not based on performance, results, seniority, potential, or impact to work that was being done. Jobs were "eliminated" so friends and "pets" could ride the gravy train off the backs of those who had experience and built the organizations. The management I knew kept their "pets" and they are still there and that is why this company is in the state it is in. Where have all the quality people gone? They have self respect and find other jobs.
There are many smart and talented people in the rank and files at GE. There is a can do attitude unlike anything I have seen again. People were once super charged and made things happen. I made the moves, more times than I wanted to. I ran with the tap on the shoulder and relocated my family because I was told this is what was needed to advance. The trouble is there are/were some very big egos who were all flash and swagger. Now they just pull into the parking lots into their reserved spaces in their company owned cars and hide in their offices watching their own investments all day. The last business I was in the empire had no clothes. So, if you decide to stay, good luck.
Opinions expressed in this piece are solely my own and based on my own perceptions and personal experiences.