💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

WSJ: GE's Flannery may cut thousands of corporate jobs in upcoming review

Published 10/18/2017, 03:42 PM
© Reuters.  WSJ: GE's Flannery may cut thousands of corporate jobs in upcoming review
GE
-
  • New General Electric (GE -0.3%) CEO John Flannery is expected next month to unveil the results of a strategic review that includes thousands of corporate-level job cuts and scaling back of GE’s global structure, WSJ reports.
  • Flannery also reportedly will shut research centers in Shanghai, Munich and Rio de Janeiro, shifting some of their engineering work into individual business units, a retrenchment that will leave GE - which spent more than $5B on R&D last year - with just two global research sites, located in Niskayuna, N.Y., and Bangalore, India.
  • GE is under intense pressure to cut costs and end a stock price decline that has erased nearly $80B in value; on the other hand, some of the restructuring moves could suggest to some that the company is in worse shape than previously thought.
  • Now read: General Electric: How To Play The Dividend Cut Fear


Original article

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.