https://www.marketwatch.com/story/ge-has-nearly-halved-its-u-s-workforce-in-3-years-with-more-job-cuts-likely-11613160793
GE has reduced its total workforce by 139,000, or 44.4%, over the last three years
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The majority of them came via selling companies, with some 10-15% from economic related challenges in Power and Aviation. What is most telling to me is that headcount reduced much faster than revenue.
Another 15% job loss coming to 273 onion this employee has been waiting as I sit and wait. Well? When?
There won’t be any layoffs in 273 we have a boat load of work and unlimited ot. Plus we have a great onion.
“ We continue to closely monitor the economic environment and expect to undertake further restructuring actions to more closely align our cost structure with earnings goals,” the company stated in its latest 10-K.
= more jobs cuts coming.
Would be interesting to see the numbers on employee reductions from layoffs vs. divestitures. Both were significant, but decreases from divestitures was probably larger. Unfortunately, both types of employee reductions (excepting possibly COVID-19 related layoffs in Aviation) emphasize how Immelt's leadership almost destroyed GE!