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...GE is a great company in terms of benefits, and I'm glad to have a job," she says. "But in two years, when my kids are gone, I doubt that I'll put up with this." Responds GE medical-systems spokesman Patrick Jarvis: "We do employee surveys every year to find out what employees are thinking and to improve the environment...
...them, up from 13% in 1997, according to the consulting firm DDI. "Of course, you don't want to make the B's feel bad, but you also want to instill a philosophy of continual improvement," says Noel Tichy, a management professor at the University of Michigan and a GE alumnus...
Critics say rank and yank can be used as a smoke screen for downsizing or simply dumping older workers who populate the lower rankings. Ford and Goodyear dropped their forced-ranking systems after a number of discrimination lawsuits. GE is using its grading practice to cut labor costs, says a former manager in the medical division. He says he was pressured to identify employees as "Code 4s" (on a 1-to-4 ranking scale, with 4 being worst) and "get rid of them. I never had 10% of my workers who were Code 4s, but I had to come...
General Electric's old advertising slogan--"We bring good things to life"--conjured the comforting glow of a GE light bulb or the hum of a refrigerator. Real stuff. The company's new catchphrase--"Imagination at work"--may soon summon visions of the Hulk or a horse named Seabiscuit. With GE entering talks last week to merge its NBC unit with Vivendi Universal's entertainment assets, the industrial powerhouse has muscled onto a media stage already crowded with Schwarzenegger-size conglomerates. For GE, imagination may soon have to do some heavy lifting...
Should the deal go through, GE would get a huge factory of content for its NBC division--a factory that Vivendi couldn't run profitably. The onetime French water company that ex-CEO Jean-Marie Messier tried to build into a media empire imploded under huge debt and a devastated stock price. Now Vivendi will get its $14 billion asking price, including $3.8 billion in cash up front as well as a 20% stake in the new venture, while still hanging on to its telecommunications company Cegetel and the Canal Plus TV business. NBC Universal would unite the top-rated...