The only hope GE had left was the experienced workforce that stayed because of pensions. GE Leadership has been frustrating employees for decades with their incompetency. Now with the looming pension freeze, the mass exodus of these employees will soon occur. This mass exodus will be the final nail in the coffin for GE.
Every time employees walk out the door, they’re taking their institutional knowledge with them. And in an era where everyone is a subject matter expert in something, that puts General Electric in a precarious position. Whether GE's employee turnover is above or below average, GE becomes at least temporarily less efficient every time someone leaves. Knowledge is permanently lost when people leave GE, taking their institutional knowledge with them. If that expertise isn’t preserved, rebuilding will very likely be a slow, inefficient, and frustrating process for all involved.
GE's notorious reputation for perpetual layoffs and sticking it to employees prove GE's lack of appreciation for those who made leaders their many $Millions.