Word: ge
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Dates: during 2000-2009
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...Welch earned the nickname "Neutron Jack" in the early 1980s for the massive layoffs he initiated at GE--he eliminated nearly two-fifths of the company's total workforce in his drive to get the conglomerate out of businesses it could not dominate...
...early '80s was a horrific time for all of us in the industry. All kinds of businesses just went in the toilet and GE was in some of those businesses," Buckman says...
...Welch has also come under fire recently for shirking GE's obligation to clean the upper Hudson River, the biggest toxic site on the Superfund list of the Environmental Protection Agency...
...While the first "revolution" of GE under Welch's watch was characterized by a slice-and-dice philosophy, subsequent phases have focused on growth of both informality and of quality control...
...Welch's most significant contributions to GE's culture is his concept of "boundarylessness." After the layoffs, Welch cleared out the underbrush in his remaining businesses by streamlining and de-bureaucratizing them. He reduced to five the layers of management that exist between the factory floor and his office at 30 Rockefeller Plaza in New York...