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Neutron Jack’s corporate bible of slash and burn is still worshipped widely

Richard Curran


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Jack Welch’s approach to downsizing, deal-making and financialisation became the cornerstones of America’s 21st century model for big business. Photo: Peter Foley/Bloomberg

Jack Welch’s approach to downsizing, deal-making and financialisation became the cornerstones of America’s 21st century model for big business. Photo: Peter Foley/Bloomberg

Jack Welch, former chief executive officer of General Electric. Photo: Peter Foley/Bloomberg

Jack Welch, former chief executive officer of General Electric. Photo: Peter Foley/Bloomberg

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Jack Welch’s approach to downsizing, deal-making and financialisation became the cornerstones of America’s 21st century model for big business. Photo: Peter Foley/Bloomberg

Jack Welch was one of the most celebrated chief executives in American corporate history. He played golf with presidents, hung around with celebrites and helped the share price of GE, the company he ran for 20 years, to soar.

Along the way, the man who was nicknamed Neutron Jack fired over 100,000 staff under a series of mass layoffs and factory closures. He used an annual employee ranking scheme where workers performance was scored and the bottom 10pc were let go every year.


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