Former General Electric CEO Jack Welch is out of his writing jobs at Reuters.com and Fortune after rubbishing in a Tweet the fall in US jobless numbers to 7.8 per cent.
Less than a week after he Tweeted the suggestion that the White House was cooking the employment figures, Fortune "more or less kicked him" on the way out of the door, AdAge reported .
Under the headline, "Welch can't take the heat: I quit" Fortune reported that Welch had said he would no longer contribute to Fortune following critical coverage. He said he would would get better 'traction' elsewhere," said the magazine.
On Friday, Welch said on Twitter that President Barack Obama's "Chicago guys" had altered the latest jobs report to benefit the White House.
Many outlets, including Fortune and Reuters, "voiced skepticism about the conspiracy theory", said AdAge.
On MSNBC, Fortune Managing Editor Andy Serwer said the biggest thing wrong with Welch's tweet was that the economy doesn't back up his claim that the numbers were faked.
"I think it's exactly the opposite of what Jack Welch is saying," Serwer said. "Things are actually improving."
CNNMoney said even conservative economists thought Welch was wrong .
Yesterday, Fortune.com ran a story pointing out that Welch lost nearly 100,000 jobs during the 20 years he ran GE.