General Electric is set to announce plans that will transform the company.
In a pre-market opening call to institutional investors on Monday, GE CEO John Flannery will detail his vision for restructuring the company, in an attempt to stop the free fall in the company’s stock price.
The price of GE’s shares has plummeted nearly 40 percent, shedding more than $80 billion in market value. Its third quarter earnings this year saw the biggest drop in 17 years.
When Flannery replaced the company’s longtime CEO Jeffrey Immelt in August, he ordered a deep dive into all aspects of the companys business divisions, which operate in over 170 countries and employ 295,000 workers.
We need to make some major changes with urgency and depth of purpose, Fl…
Read the full article at: http://www.wbur.org/bostonomix/2017/11/11/after-big-quarterly-earnings-drop-ge-set-to-reveal-cost-cutting-restructuring-plan