Doesn't look like cost cutting is going as planned, possibly another RIF come Sept. Anyone heard anything?
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Saw slide deck with 40% layoff target for Digital SPB's - Atlanta, Miami, Providence are not in scope of this action. I'm interviewing with Ford. Things not looking good here in Detroit.
Only 35 people took the severance package at the Digital Hub Detroit. I would expect more layoffs in light of the lofty goal of cutting $1B in costs in 2017 and another $1B in costs in 2018, but not sure when and to what degree.
My opinion: At Detroit - Digital DTD we have been 2 years on hiring freeze. The attrition over the past 2 years and voluntary layoffs a couple months ago still might not be enough. Look for layoffs to begin next year at approx 5-10%. Many employees especially the SPB's are content to ride it out and hope it will work out for them. As for the rest of GE Digital I believe they will do a few layoff tweaks at different locations and just not replace many as transformation continues. My advice that if you are not technical get as much training as possible and hope for the best. I think GE will be a good company to work for but at least 3 more years of a rough go.
Just one or two "SVP level" worthless fatcat being fired is not going to meet any target.
John Flannery is quite a bit smarter than the earlier guy. Shareholders and customers need to be mollified.
Hope you are going to be fine. I am already interviewing.
Somebody said the cost target is met.