One of the oldest companies still in existence is unfortunately cutting jobs.
The struggling giant, GE, is looking to save approximately $1 billion in 2018.
— CNN (@CNN) December 7, 2017
The jobs will primarily be outside of the US, but this is one of the biggest companies in the world reducing staff by nearly 20%.
This is sad. My father used to work for GE for many years. I feel bad for the 12000 employees who will celebrate Christmas with pink slips. Nothing says Merry Christmas more than you’re fired. #sarcasm #unmerrychristmas #CEONeedsToTakeAPayCut #GE https://t.co/gVNnafDPZs
— Shawn Kirkham (@SKirkham1967A) December 7, 2017
— Runway Girl Network (@RunwayGirl) December 7, 2017
While the cut will be rather detrimental for those employed by the company, and seemingly beneficial for their employer, others question the motives behind the cut.
Meanwhile, in related news, GE received $15.4B (!) in tax breaks from US government from 2007-2015 (per @nytimes).
— Jamie O'Grady (@JamieOGrady) December 7, 2017