Rumor is Microsoft is the partner aquiring core tech. Anyone here not afraid to confirm? Im sure there's an NDA, but come some of us have families and would be good to know if we should be looking for work elsewhere.
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CoreTech including cyber security has about 2k people. The org does some really good things for GE. They say they are looking for a partner to form a new company but also said GE would be a minority owner. The GE businesses most likely will be forced to use the new company for a couple of years and then can do their own thing. Repeating history this is for all practical purposes and outsource without having to lay off 2k workers. That becomes the problem of the new company in a couple of years. As the GE businesses become more autonomous they will take on their own IT time as they can do cheaper than dealing with the new for profit company. This a short term disposition of GE workers with no other value to the businesses or share holders. History repeating itself with a new twist.
Why would another company want CoteTech, you ask? Easy.....revenue. GE Healthcare is signing up for three years. Any company picking up CoreTech will immediately gain two customers....GE and Healthcare. The company interested in CoreTech will likely have most of its services automated. So, you don’t need to keep all the CoreTech d---beats. GE wins as they roll off all the payroll and non-value added processes. GE gets better service from a company that does service delivery efficiently at a fare market price. GE also gets away from the “simplified” CoreTech bill which was just a disguise for hiding costs CoreTech leaders didn’t want to get rid of.
I couldn’t be more embarrassed to work at GE In IT. Senior leaders are used car salespeople. They would probably sell out their own mother for the right person. I look to do as little work as possible during this transition and use the entire time to find a new job. GE has f’ed me long enough. Time to return the favor.
When I say that if you’re talented you’re fine, what I mean is, if you have talent you’ll be able to find a job somewhere else. Companies are looking for talented people. Also, the GE businesses are going to need talented people to run their IT departments. Business goes on even if coretech spins off.
"Relax, if you're talented you're going to be just fine."
Really!!?? I worked for GE over 17 years and I can tell you several times where many of our best people were let go. In one instance, many were let go only based on the location they worked from. There was no consideration given to "performance". We lost over 90 of our best team members do to that stunt!
People that were told they were not at a strategic location and in one example, there was one person that worked in an office a few blocks away from an office that was considered strategic, and they were told they couldn't go to that office instead.
That was ONE example of many over my years. So for you to make this statement, means your either new to GE, Senior/Executive leadership at GE, or you have been hiding a rock!
There are a lot of talented people in coretech. There have been a few large companies that have been in talks with GE about leveraging their IT skills and processes. People get so worried any time there is change. Relax, if you're talented you're going to be just fine.
I agree. What value does core tech have for someone to buy. Maybe a contract house might want some of the people and a GE contract. Sharpen those resumes today.
Why would any company buy Coretech? Coretech is an internal IT support organization that owns nothing of value. Predix may have something of value but very little. I worked for Coretech and to think MSFT or Dell would but the organization is just crazy! It would be called an outsource deal! They would take over the management of the environment and s--- in the employees as part of that and then spit the majority out on the other side.
sorry but no, it's not a private investment company. when Bill and the SR leadership says "they are looking at external investments", that does not mean a private investment company. leaders have confirmed they are looking at external investments. stupid rumors are what rises when people don't understand what they are hearing in all-hands meetings.
if you read the history of genpact, it sounds alot like what is happening in coretech. GE tends to repeat itself, so i assume we will be like genpact.
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the rumor in cincinnati is that CoreTech will be merged with a private investment firm. This has been confirmed by some senior leaders. Ask any senior executive leader about a private investment company is buying us, and they won't give you a straight answer. it will not be another tech company.
this is not good news.
It wouldn't surprise me if Genpact will take over all of the support functions and GE Digital IP. And of course they wouldn't need most of the dead weight in GE Digital.
But I seriously doubt that Microsoft, Dell or any top tier tech company would want anything that GE Digital has.
MSFT doesn't need the (vaporware) tech. the only reason for them 2 buy would be for sales channels/relationships into GE vertical biz. but MSFT is staying horizontal with azure. they will let partners and 3rd parties do vertical customization and integration for them
and with all the uncertainty around GE divestiture, spin off, shaking up suppliers/cost cutting etc. it would be a dumb/bad move right now
but tons of people are making dumb/bad moves for the sake of putting feathers in caps, looking like they are doing SOMETHING, anything, to shareholders and the board
BR and all predix managers guilty of this - no good ideas, but they had to do SOMETHING. s---s for all employees caught in this technically unsound smokescreen of a project
You will be hearing from google news, before GE execs announced it. Why Microsoft pay nay money to buy a business unit doing nothing,but losing money. GEDT will outsource to overseas locations so that all those Execs have a excuse to travel there so that they can waste company money.
Its hard to believe that Microsoft would be interested so don't get your hopes up. Don't rely on others for your future. Best advice is to start job search while you have a job. Good Luck
Yes very true. I’m on the same boat and would like to hear about this as early as possible