Well this was predicted.
7 replies (most recent on top)
News flash...based upon how the company has been run for years ..not many people have confidence in GE leadership. Maybe they should stop promoting from within for a CEO and look outside. JF ...is another clown.
Let's be positive. Less dividend payout = more cash retained = less pressure to layoff. Dividend cut isn't that bad. Investors don't like it, stock price down the drain, but f$€k it you shouldn't care. The real bad thing is that the company cannot generate enough cash flow.
@dbz the $6B into pension is just a pre-payment of GE’s funding obligation for the next 3 years. Instead of putting in $2B per year for the next 3 years, they’re dropping $6B now. Take the hit now while the year is already a disaster and prop up the books a little in the next 3.
@rps #FakeNews! 40% layoffs in certain areas maybe but not across the board. Even if we had a 40% reduction in revenue, it does not equate to a 40% reduction in headcount, maybe 10%. Schenectady isn't going to close. They will have reductions like the rest of GE Power but they will continue to build steam turbines. Frozen pension...likely.
Over 40% layoffs. Schenectady to close. Pension Plan to be frozen. #ToldYouMonthsAgo
@kos they will likely freeze pension soon but are guaranteeing pension through 2020 #RealNEWS! #noBonus'18 #SinkingShip #SmokeNMirrors #MeatBallDown
What did he mean by the Pension Plan will be funded through 2020?