The company turned bad when they started capital and milked all the cash with big salaries and bonuses for execs. They knew capital would eventually fall apart. Cash flow was good so kept investing more and more and let manufacturing slide. They sold Appliances, Transportation and dozens of others that were profitable but could not stomach the low margins that required hard work. They wanted high easy margins like tech companies so digital came along. By then they were outclassed and out positioned by other tech companies. So then they said going to concentrate on manufacturing but it was to late. Organization bloated and mostly filled with finance people. Along this journey they paid employees well to keep them happy to the wheels started to come off. So to correct this they look first to the little guys to cut while bloated management drains the coffers. Goodbye GE you the last 10 years were your swan song.
This needed to be in a thread of its own. OP is @juk+1dKLH3fP.