https://en.wikipedia.org/wiki/Jack_Welch
During the early 1980s he was dubbed "Neutron Jack" (in reference to the neutron bomb) for eliminating employees while leaving buildings intact.[20] In Jack: Straight From The Gut, Welch stated GE had 411,000 employees at the end of 1980, and 299,000 at the end of 1985. Of the 112,000 who left the payroll, 37,000 were in businesses which GE sold off, and 81,000 were reduced in continuing businesses. In return, GE had tremendously increased its market capitalization. Welch reduced basic research, and closed or sold off under-performing businesses.