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Blame Capitalism: Profit over everything
Today, Explained
The Radical Cost-Cutting Measures of GE's CEO
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GE CEO Jack Welch implements drastic measures including mass layoffs, factory closures, and selling off non-profitable businesses. His goal is for every division to be number one or number two, with a leaner workforce and reduced costs through outsourcing and offshoring. This strategy aims to increase profits and drive up the company's share price.
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