I don’t know what to believe these days. Can anyone shed light on all these rumors going around? Some rumors have to have some truth or weight to it.
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It used to be that you prevent a group of people from learning how to read and then they wouldn't get smart enough to know any better and leave. Now they just feed you false hopes so that you won't know any better and you'll stick around. A mass exit is only good when it's on your terms and GE doesn't want you to leave before they are sure they want you to leave and they aren't sure just yet. Once they are sure, you'll be gone.Since they still think you'll be needed next week, that's the only reason why you are still here this week. Do you honestly think that if all the work was finished up by the end of August, that they will keep everyone around to twiddle their thumbs until March 2021? Do you really think that if you get laid off in November that it'll make them reconsider when you tell them that you heard a rumor that there would be no layoffs for Schenectady till March 2021? Even if the Union flat out officially tells you, it's still worthless words. GE has been on a decline for a long time and will continue to do so until there is a huge cultural shift from within. That cultural shift will never happen so I hope you're old enough to retire soon. Also, the financial bind that Covid has put on the economy isn't working in GE's favor. The recovery after all of this is over will take a long time until it gets back to GE.
Don't trust what the union tells you, 88% of rumors you hear are true. So if you hears 25% reduction by the end of the year most likely its true, I for one don't trust a word they say and thats coming from experience
Power has been a poor performer for several quarters. It still represents 29% of NewCo's total revenue, so its performance could have an out-sized impact for the foreseeable future. COVID-19 hurt the segment's supply chains and hurt its ability to close certain transactions. If governments around the globe are hurting financially then it could reduce their appetite to fund future power generation projects.