Inner office Chatter going around that Power in the states is going to start sending a lot of service work overseas. In addition to the service work there are going to also be less full builds for Schenectady. That is why the salary and non union team has laid back some. They know the big cuts are coming!
7 replies (most recent on top)
Gas Power in Greenville is now losing work. New turbine unit orders for North America are suddenly being cancelled. The orders for export are largely still going through, and Greenville is still making spare parts (buckets, nozzles, rotors, combustion components) for the services side. But that will dry up as well, once the power generation customers are no longer allowed to run natural gas turbines to generate power to sell on the FERC regulated power grid.
The Consolidation agreement is going to bite 301 in the a$$. If your not in a skilled trade already, it may be to late. The flexing is to train the A and B employees that didn't go through the bar shop, how to do those jobs. Good Luck, Q4 21 is just around the corner.
Well a lot of flexing going on I doubt next years projected and anticipated orders might be a little high.
Services doesn't give a c-ap about Steam Turbines. For every 10 GT Jobs we had 1 ST. Its not high on anyone's priority list. Gas Gas Gas.....GVL GVL GVL.
It really depends on the employee. We are not shoeing horses here. A strong tech contributor will not be replaced by 2 or 3 newbies out of college. It takes many years to get good and get fast in the new tech environment. You're really looking at 2 or 3 employees plus a well paid consultant to replace some of these folks. I wouldn't overdo it if I were in HR.
GE actually likes retirements in most cases. It gets rid of an outdated mindset with grandfathered in policies that they want to get rid of. Their only downside is the experience that goes with the retirement but the ever advancing technology is making their long term experience more irrelevant by the day. A tire shop hasn't needed some old guy that knows how to shoe a horse, for a very long time. That experience and knowledge is worthless for the business. For the yearly cost of one senior employee who retires, you can get 2-3 new employees that will still cost less if allowed to accumulate the same numbers of years before their retirement. It's really a win-win for GE and the employees. The retired employee just wants it to end, GE wants to be done with the retiree, the new employees just want a job, and GE just wants new employees that cost less because the new employees don't know any better.
The hall has supposedly been telling people that are retirement eligible to wait until the fall because there is going to be a VRIP... I think that is just wishful thinking. But, Culp does have a big incentive to hit his stock price, so you never know.