Part 5/9:
Once seen as a beacon of innovation—introducing groundbreaking technologies like the X-ray machine and modern appliances—GE’s identity shifted under Welch’s leadership. The company became synonymous with mass layoffs and financial maneuvering, leading critics to argue that the spirit of innovation that defined GE for over a century was sacrificed on the altar of shareholder primacy.
Prior to Welch’s era, GE’s reputation was built on a mutual success model—growth that benefited employees, customers, and communities alike. However, Welch’s vision turned this model on its head, advocating for a singular focus on shareholder interests and profit margins. His influence prompted many industries to adopt similar practices, effectively reshaping corporate culture across America.