Some say layoffs are underway and others assure me there are still no layoffs.
I haven’t been here long and I’m wondering if this company has always been this non-transparent when it comes to layoffs?
Is this their usual style of management or was it different before? We should definitely always be prepared, whether there are cuts or not, but this uncertainty really frustrates me.
6 replies (most recent on top)
To understand the history understand how employees and families are treated by the company look at what happened in Peterborough, Canada GE plant.
https://www.cbc.ca/cbcdocspov/episodes/town-of-widows
Well, GE has and likely always will do layoffs. The C-levels need their bonuses and other compensation, and the best way to do that is to lay people off. What? Can't product products, meh, who cares, as long as they get paid.
YES, its always been that way, and more and more, it looks like its going to stay that way. I was really hopeful that Larry wouldn't turn out to be another run of the mill CEO, but recent events are changing my outlook. He made 78 million in compensation last year and in a week was able to destroy over 20 billion in market cap. We may have another 2 jets on our hands.
They are using this pandemic to shift work to Mexico and Istanbul...sad but true.
There have been and will be more layoffs but not all teams are impacted. This economy is unique in history so the future is hard to predict. Personally I see storm clouds on the horizon.. but I have an umbrella or 2 up my sleeve so no worries :)
Each division is different and is impacted in different ways. So it just depends. BUT having leaders with no product/market knowledge is always concern, especially when they don't understand the business cycles that occur with the products we sell.