The same is planned in Siemens. After being fired from GE there is no point to search for the job there. Siemens is holding rumors down -> not to get GE share behavior as their financial statement seems for some analysts to be "tricky".
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Siemens is your typical high cost European company with many facilities spread all over creating duplication, low synergy and high cost.
GE power used to have a few high density product departments that were vertically integrated to capture cash flow, operate at high efficiency, and minimize duplication. Experts made the product departments hum.
Now GE Power has a huge wide horizontal organization structure devoid of experts and staffed by six sigma managers with little product or customer expertise. Alstom, Atlanta, and facilities in India, China and farm out vendor supply chain has destroyed cash flow because too much cash flowing out, and not enough in.
GE Power has transformed into a European type high cost organization instead of the leader of the pack. GE Power needs to go back to vertical integration, or slashing after slashing across the board will continue and not fix the problem. Only make it worse
Mitsubishi just cut their earnings estimate by more than a third and announced staff cuts. It is the end market made worse by our current cost structure.
I heard Mitsubishi Hitachi is hiring.