That seems light considering the market demand is down 40% give or take. That must be a modest number! Well bring on the pink slips LC needs the rest of his bonus!
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Meanwhile at Siemens, 7800 jobs to be cut, 1700 in the US in the next few years. Their stock is up 50% since being listed on 9/2020
https://www.powermag.com/siemens-will-cut-7800-jobs-from-gas-and-power/
Only a t rate would say this is fake new! Ha ha this t rate must be one of those special ones who thinks he or she is an engineer or something. We’ll time to go back to your last job making $12 hr because the pink slips will be rolling out. 1/3rd of the t rates will be gone for good.
Fake news.
The reduction will be larger than 20%, they will offer packages and do other "people actions" first to mitigate the number of people actually hitting the street. Don't be fooled by GE's "fun with numbers", its what got them in this situation in the first place.