General Electric Co. slashed its 2017 projections as new Chief Executive John Flannerys started to outline his restructuring plans, setting a goal to exit more than $20 billion of the struggling conglomerates businesses.
Mr. Flannery, who came into the job in August and recently became chairman with the early exit of Jeff Immelt, has expressed an urgency to reduce costs and rethink the sprawling company. In addition to lowering earnings targets, the company Friday cut its forecast for 2017 cash flow by half from a July…
Read the full article at: https://www.wsj.com/articles/ge-earnings-fall-as-new-leadership-picks-up-restructuring-work-1508497764