Gary Sheffer Across Quotations

We have no layoff targets and no company-wide numbers. We never announce overall layoffs because we don't plan for them across GE. We leave it up to individual businesses to decide what actions are necessary to meet their objectives. However, it's clear we'll need fewer jobs at GE because of redundancies from the Honeywell acquisition, the Montgomery Ward bankruptcy, modest volume-related reductions and GE's digitization activities.