You are here: Home » International » News » Companies
Business Standard

Plans to shrink GE worries investors; shares hit five-year low

GE shares fell to their lowest level in more than five years as investors worried the years-long overhaul would not pare down enough expenses

Reuters 

General Electric Co's new Chief Executive John Flannery on Monday outlined steps that will turn the biggest U.S. industrial conglomerate into a smaller, more focussed company, surprising some investors who sold the company's shares to a five-year low. Flannery's plan to shrink GE's multi-industry array of businesses was a reversal of the deal-driven empire building of his predecessors, Jeff Immelt and Jack Welch, and potentially a milestone in the decline of the conglomerate as a business strategy. Other companies that once emulated the GE model of spreading bets ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Tue, November 14 2017. 08:42 IST
RECOMMENDED FOR YOU