GE Digital is asking a preselected group of people to volunteer for a massive layoff on 6/28.
They are offering a cash incentive in addition to regular layoff benefits.
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Pretty accurate prediction by one day. Forty got let go for roles opening in the US Market! They obviously will deny this! Edmonton got hit hard yesterday for posts that can be filled in the US Market. GE Energy Connection Employees was also impacted. Say good bye to Development in Edmonton boys and girls!
Edmonton now is too large for its still employed. Is it possible that more could come? Is the building signage not being altered since the last reorg "a sign" for this massive layoff that occurred 6/27 in Edmonton? I'm sure those still with jobs are thinking what's next???And When???
I'm sick of feeling devalued. I'm sick or reorg after reorg. I am taking the package. Digital leadership has no clue what they are doing and making it all up as they go. If they want to sell Predix they need to stop running a day care and get some sophistication. They are doomed.
Nothing was communicated in the all hands today though...
"GE has the right to rescind the offer for those who accepted the offer but are in critical roles."
And if you ind yourself in a critical role but wanting to take advantage of the redundancy package then you are probably undervalued in terms of salary. Provides an opp to negotiate more salary or a retention bonus..
This is accurate, it's been published and communicated to the employees
GE's mandate is to roughly double EPS from .98 to 2.0. This buyout is part of making that happen. If you watch the stock, it's drifting downward again and the activist investors are fed up with crap performance.
GE Digital employees with at least 5 years of continuous service are eligible for this severance program. However, GE has the right to rescind the offer for those who accepted the offer but are in critical roles.