General Electric Announces Restructuring Plans

  • After newly minted CEO John Flanney took the helm of the industrial giant, he targeted the Nov. 13th investor meeting to announce his vision for the future of General Electric
  • During the investor meeting it was announced that the quarterly dividend would be cut 50%, from $0.24/share to $0.12/share
  • Also announced was a leaner board and laying off 25% of the corporate staff
  • Going forward General Electric will focus on three main business (healthcare, power, and aviation), which accounted for approximately 58% of its revenue last year