Back at the end of the 1960s and early 1970s a remarkable transformation was taking place in the
The combined three companies had a workforce of 265,000 people and a turnover of approximately £1billion.
Within a couple of years, 33,572 people had been laid off, representing a decrease in head-count of 12.6%. GEC paid the minimum legal redundancy money.
25 years later, GEC's turnover was £11 billion. Its growth had not kept up with inflation.
MORAL: Governments Should Be Careful Which Businessmen They Support.
And 10 years after that Simpson and Mayo ran it into the ground and both its workforce and turnover were reduced zero.
Moral:- Arnie Weinstock may have been slow and steady but at least GEC was still in business under his leadership.
You're right ChrisG, although Arnie didn't leave much behind in the way of a UK computer industry or a semiconductor industry he did leave a £10 billion+ business behind which Simpson and Mayo, as you say, turned to dust in a few years.