Re:LinkedIn to cut 960 jobs worldwide
by Zafira on Tuesday July 21, 2020 @05:55PM
(#23911415)
While GE's successes under Welch are suspect at best in my opinion, I was more referring to the legacy of "stack ranking" under Welch's tenure.
I've read "At Any Cost: Jack Welch, General Electric, and the Pursuit of Profit" and I consider him a con man. Stack ranking was just a nice veener to justify layoffs whose primary motivation were to inflate the valuation of GE and increase its perceived profitability.
To be fair, Welch gave what the investors wanted, but he corrupted everything in pursuit of that. If the primary proof of stack ranking's "wisdom" was that GE's stock went up then that is a sad indictment of the state of business culture in the West.
I've read "At Any Cost: Jack Welch, General Electric, and the Pursuit of Profit" and I consider him a con man. Stack ranking was just a nice veener to justify layoffs whose primary motivation were to inflate the valuation of GE and increase its perceived profitability.
To be fair, Welch gave what the investors wanted, but he corrupted everything in pursuit of that. If the primary proof of stack ranking's "wisdom" was that GE's stock went up then that is a sad indictment of the state of business culture in the West.