A job elimination target of 12,000 was announced several months ago. The company is not even half way to this target. Expect more layoffs to come.
I was thinking about this today, trying to figure out how far we are into that number. Unfortunately, GE is making sure there is no official number, so the best we can do is guess. But I'd say halfway through is right. Anybody can venture a better guess?
@eqg How do you think this country was built? Hungry capable immigrants taking over comfortable/less capable natives (or previous wave immigrants) at whatever is hot now... Same thing keeps happening, you get complacent or lazy, and someone else will replace you pretty soon. Unless you are a top GE exec of course, then you will retire with a gold parachute and a $200 million bonus.
Really a shame when you see they are laying off US citizens and keeping foreign employees and even sponsoring their green cards!!!!
Concern is not just the balance of the 12000 but business is trending worse than expected so how many more will be required to get to at least a break even scenario for New Unit Power.
It is not a secret that around 7 thousands still remains and that is mostly in Europe. After this summer we will hit the target of 12000 worldwide.