Thread regarding GE Digital layoffs

Look, there is still a lot of GE "talent" around which is responsible for creating this mess. Do we need to start naming names?

@10Algmd9-8cwb The hardware biz that is moving into Renewable is extremely low margin and therefore low cash generation potential, which would also trigger impairment based on overvalued acquisition price.

On a complete id–t would consolidate the business into the highest cost/highest turnover location!

Consolidate all personnel in SR?

The impairment charge is weird and has to do with write down of hardware once SW is organizationally separate. Seems like a large charge triggered by simple re-org.

Still too many sites, not much alignment.

@10Algmd9-6zud Not sure about Coretech, but GED has largely been wiped clean of the offenders creating the mess. Unfortunately there is still a large steaming mess, and it's causing a lot of effort to clean up that could be better spent innovating for customers. The faster we separate and cut the BUs out of the way the better.

GED and Coretech are run by a bunch of yahoos that only are there because of the Buddy system! Look at who remains. A lot of them are the people that created the mess in the first place. Nothing will change because the people at the top remain the same. You have people that are now Vp's that were low-level managers three years ago. They did not get there because they delivered anything of value.

@10Algmd9-5fht
Not sure why you use the term “claim” there, you jealous that GED is actually making money?

Piss off, this is why GED desperately needs a spin-off so the performance bonuses is not dragged down by the rest of GE.

GED immelts $220BN dream turned into a employees nightmare.

But GE Digital DID frequently make specific revenue claims. Highly questionable ones.

whether the p/l is reported or not,if there are rev rec irregularities, that is problematic...

@10Algmd9-3zfo it came with the Alstom acquisition so it can still be valuable, just not anywhere near what Immelt paid. And Renewables lost money last quarter and we don't want to show that type of loss on their business. At least everyone is distracted by Power right now.

On an average day a 750M impairment charge itself would be news, of course this is just another day at GE...

That charge was a"minor" $744M, covered in last Q earning disclosure. Simple Goodwill impairment w no restructuring?

If it were areported P/l,it would be immaterial. Interesting to see how the impairment plays out. Wasn't grid the "gem" of GED?

GE Digital is not reported since it's a virtual P&L rolling into Corporate, hence the Grid Software Solutions impairment charge in preparation.

Yes but likely because the small size of GED anything is immaterial compared to the size of businesses highlighted. Likely revenue rec in GED is highly imaginative ?