In order to make GE competitive?
https://finance.yahoo.com/news/ex-home-depot-ceo-disputes-books-characterization-of-jack-welch-122023479.html
How does that make GE competitive NOW?
Enjoy your firebrand of Capitalism (snicker :-) !
11 replies (most recent on top)
That was before I & D policies were put in place. Selections, placements, and dismissals are done more carefully and discreetly now. Neutron Jack couldn’t get away with it nowadays.
If GE needs 10 people, it hires 50 and then over the next 6 months or so, 40 would be let go. That's been an SOP for decades going back into the 1980s at least. It was done like this so you could get the top 10 best employees out of the bunch who wanted to land a job.
Jack was just playing his little pawns and having fun with his ego and he could as the company was stable raking in the money even though it meant putting jobs on a barge and sailing them across the ocean and making money through loan finance which didn’t need purchase of inventory to make something. Then JE was just asleep at the wheel all the while advertising to convince us to believe the future will get better and better. Yeah right.
The bottom 10% of the workforce used as an example to all employees above. Not unlike GE as a company in the business world used as an example to all operating companies above.
aup+1hZLcy7U
That is still true today at my site. Most people and groups don't want to collaborate, they want to win.
This is old news. It was and is well known that Jack Welch fired the bottom 10% of employees every year at GE. It's been studied over and over in business schools.
Nardelli, what a great example of a never was that after being passed over for CEO @GE, went on to trash Home Depot AND Chrysler. Boeing will be the next company to tank with an ex GE big wig at the helm.
and none of his successors could right the ship from all the financial shenanigans, focus on the A players, and bullying suppliers. no wonder why the company has sunk
Typo Fort Edward NY
Don’t worry GE will be no more Schenectady will be a waist land like Fort Plain
Jack Welch is a discredited pompous fraud and shyster. Welch destroyed any vestiges of teamwork by implementing these policies which made your co-worker your competition and adversary. Just look at GE one Toto pulled back the curtain...a big fraud that built a house of cards....