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In Jack Welch's words, it's more merciful to do this, than keep someone around for a decade, and then suddenly fire them (because their performance has been ter
by mjfl 4y ago
In Jack Welch's words, it's more merciful to do this, than keep someone around for a decade, and then suddenly fire them (because their performance has been terrible, below 10th percentile, for 10 years). It allows them to find a job where they fit better, sooner, instead of feeling surprised and betrayed late in their career.
- notfromhere 4y agoJack Welch is not a business genius. His antics blew up GE and the company has never recovered. His reputation has no connection with the reality of what his tenure did to the company. Unfortunately, we're all stuck with a bunch of Jack Welch acolytes running corporate America.
- mjfl 4y agoor did Jeff Immelt squander it? It took almost 20 years for GE to fall apart, after all. I think that's more likely. At the end of Jack's tenure, GE was one of the biggest, most profitable companies in the world.
- acdha 4y agoHe introduced financialization, which turned GE from a company which made useful things to an unregulated bank pursuing high-risk strategies. He promoted the idea that companies should only be loyal to shareholders, and in addition to cutting jobs he pushed offshore which hollowed out American manufacturing and cities, and helped build countries like China into strong competitors. That’s his legacy, not his successor’s.
- musicale 4y agoSo many things wrong with that, it's amazing anyone could say it with a straight face.