it's a generous package. I'm taking it
19 replies (most recent on top)
For how long are you getting 50% of your salary?
Just HOW generous is the package?
Apparently Mr. CIO was noy happy with only 220 out of 750 clicking "buy now" - another rount of voluntary job reduction coming in August at 40% salary instead of 50%
I don't know what to do. I change my mind every 10 min. Has anyone heard the fate of Detroit hub?
as far as i know, it's just digital, in the us, with 5 location exemptions. no clue on other p&l, sorry
anyone know if i) this is across GE and not just IT, in the US
ii) any rumours it'll propogate across the globe?...good luck everyone!
I am submitting my name and hope not to be blocked. A nightmare if you remain. The current workload is already too great with not enough people to handle it.
Oh - if you haven't done one of the two hour sessions yet, do the one on Thursday. It is worth your time. Assuming it's the same group that did it last Friday, they are very good and the session is very informative. All the stuff is in your docs, but they take anonymous questions and answer them well. Do yourself a favor and attend.
Oh yeah, it's gonna be a mess. The amount of people I know in significant programs/projects that are planning to take this.... holy crap, all the new people are gonna be screwed. They don't understand the split DNS, the null route, what happened with SAND/interconnect. It's going to be a train wreck.
And I truly hope I do not get blocked.
I'm taking the buyout and using my network to find another job.
If a significant number of experienced employees take this offer, the work load for those remaining will get much heavier as roughly the same overall volume of work will be distributed among fewer people. Everyone needs to be more productive. GE is planning to work more efficiently across horizontal organizations, but in a company as massive as GE it will take some time to implement that work plan. The road could get bumpy.
Don't worry about the approval thing. They only want to retain those in the right locations.
I wonder how many of you that posted here I know. I bet it's a lot.
I agree - taking it is the right call, especially for SPBs with a good amount of service. The only problem is the approval thing which is totally undefined. If you submit and get declined, what then? You're screwed.
Take GE's offer very seriously. The activist investors demand significant salary reduction or Jeff Immelt & the Board is gone. If GE doesn't make its numbers, a round of involuntary layoffs with no severance may happen. Choose wisely. If you are marketable and can pick up another job easily, or if you're pretty close to retirement, taking the buyout is probably a no-brainer.
Here is what I think. If enough people takes voluntary RIF in a location this time, layoff will come next completely wiping that spot out. In this case, it is better to take it now.
I'm taking it unless I get rejected. The whole drumgoole approval thing is sketchy
How generous is it?
The incentive is great but the tax situation it creates is going to sting. I am getting over a years salary.