From what reads like a bit of a puff piece about Jack Welch [1], who became Chairman and CEO of GE in 1981:
"Under Welch, GE exited many of the traditional markets it had competed in for years, like consumer appliances and air conditioning, and entered completely new areas like medical technology, finance, television and services."
During the restructurings, Welch laid off 100,000 or so people (depending on how you count), earning him the nickname "Neutron Jack". He also instituted the policy of firing the bottom-performing 10% of managers each year [2].
From what reads like a bit of a puff piece about Jack Welch [1], who became Chairman and CEO of GE in 1981:
"Under Welch, GE exited many of the traditional markets it had competed in for years, like consumer appliances and air conditioning, and entered completely new areas like medical technology, finance, television and services."
During the restructurings, Welch laid off 100,000 or so people (depending on how you count), earning him the nickname "Neutron Jack". He also instituted the policy of firing the bottom-performing 10% of managers each year [2].
[1] http://www.investopedia.com/ask/answers/09/neutron-jack-welc... [2] https://en.wikipedia.org/wiki/Jack_Welch