GE freezes PENSION PLAN for 20,000 SALARY EMPLOYEES

[Deflatedhoopdreams]

Breh, People knew Trump wasn't good for anything but promoting White Supremacy when he ran. Everyone knew he was a snake oil salesman and they didn't care. They don't care how fukked up the economy gets they will only stop supporting Trump when he starts supporting black people.

This is it.

 

[Uno]

Capitalism I'm glad too see that these rich billionaires caring for their longtime employees

Those commies Democrats Bernie and Warren trying to get tax these kings

 

[ORDER_66]

That's fukked up but bet you nothing gonna happen to those GE execs

 

[Deflatedhoopdreams]

Doesn't seem to affect the stock price today. I think a lot of people see this as positive for the shareholders in cutting debt and getting rid of an archaic retirement system and instead use 401k. From the employee standpoint, the option is to keep the pension and face layoffs or keep your job. If it was me I would like to keep my job.

this is great for their stock. They are cutting debt. I read their stock went up 2%+ after this announcement. This is good for the companies finances. I mean when is cutting cost not good for a company.

the fukked up part is the people who have to take the heat for this decision. But welcome to America

 

[Deflatedhoopdreams]

That's fukked up but bet you nothing gonna happen to those GE execs

“The company said it will also freeze supplementary pension benefits for about 700 U.S. employees who became executives before 2011. GE's pension plan has been closed to new entrants since 2012.”

 

[Originalman]

GE been losing money hand over fist and is under a mountain of debt. This was inevitable. Couldn't pay the pension either way.

GE of 2019 is not the GE of 1999.

Yep anyone can look at their stock and see it. They are bleeding like a bytch. When the recession hits they gonna sell off a lot of the company IMO.

 

[360dagod]

GE been losing money hand over fist and is under a mountain of debt. This was inevitable. Couldn't pay the pension either way.

GE of 2019 is not the GE of 1999.

Do you think self sabotage happened at some point?

 

[Dameon Farrow]

Those pensions should be safe as shyt but somehow someway they are tied to the company's debt or at least serve as a solution to the company's debt problems. Trash.

 

[BlackBall]

Their accounting fraud scandal from a month ago suddenly looks real huh?

 

[Red Shield]

Work at a job for 40 years to end up getting SSI Boomer brehs....

They shouldn't have hollowed the usa out. Only bright point for them is.. they'll be checking out before this shyt starts getting really bad.

Stop smoking Meth

Those same blue collar white folks still feel immigrants and China is Responsible for thier problems

And Trump exploits that...they love him for that



white folks will Sacrifice Economic stability just to protect the purity of the White race

I employ a bunch of redneck Trump supporters who are living check to check just to make sure thier daughter Becky is in a private school that has very little negroes

And reside in homes they are struggling to afford just to stay away from Black folks

Like my nightshift guy ..this fukkery is 58 years old and is now refinancing his house cause he don't wanna scale down into a residency that's near "colored folk"

Yeah.. Trump didn't get elected on no economic shyt.

fukk em.. they deserve the suffering coming their way

 

[MoneyTron]

Do you think self sabotage happened at some point?

Nah, they it just seems like they lost their way. Expanded too much, big investments failed to make returns, etc, etc.

Its not like GE is putting up Apple-type financials and cutting pensions.

 

[phcitywarrior]

Do you think self sabotage happened at some point?

Yeah, GE got crazy in the 1980s and 1990s. They were expanding into business units they had no business getting into. Jack Welch was largely at the helm when all of this expansion took place. Now the writing is on the wall

 

[Oldschooler]

People will eventually revolt and hang these greedy motherfukkers like the Bolsheviks did to the ruling class in mother Russia. They better not push their agenda too hard.

 

[Field Marshall Bradley]

“The company said it will also freeze supplementary pension benefits for about 700 U.S. employees who became executives before 2011. GE's pension plan has been closed to new entrants since 2012.”

Yeah... whatever benefit/monies accrued for pension holders before 2012 should be good.... they gon offer you the okey doke for the shyt you was supposed to get after that....

 

[Easy-E]

Thanks Obama