Earlier quoted context omitted.
I thought the concensus now was that Welch's leadership under GE was not good. There's been a lot of rants about the utility of stack ranking and this sort of "fire the worst performers because everyone else is better" attitude. Namely wrong incentives. You have John Carmack and a clone of John Carmack working on your game engine. You have stack ranking. Which one should you let go during review season? Should you hi…
That worked at GE largely because they were getting rid of the gold watch retirement crowd. That worked in the past as companies had people who worked there all life, and most of the time late in career they would come to work, do nothing all day and go home. Jack Welch was simply doing long pending layoffs.
You mean, getting rid of people who had been promised deferred compensation, before having to make good on it? That was the deal with old-skool companies, remain loyal for 30 years then ease your way into retirement. GE got the loyalty then shafted those guys.