Tuesday, 14 November 2017

GE restructures to focus on power generation and healthcare, may exit Baker Huges

Reacting to pressure from investors, General Electric’s new CEO John Flannery announced plans to exit the locomotives and industrial lighting markets to focus on aviation, power generation and healthcare, while shedding 25% of its corporate staff. “Complexity has hurt us,” he said, adding GE needed “right-sizing” in its power segment to reduce costs.

Subscriber content
  Full content is available only to subscribers
please log in below or subscribe now
Or request to register for a free 14 day trial here