The Wall Street Journal reported that GE may try to sell its railroad business as new CEO John Flannery continues his plans to cut $20 billion worth of assets following what he described as “horrible” Q3/17 results.
The Journal noted that a slump in the rail industry may be impacting the decision, with revenue falling by 8% on a year-over-year basis for the division.
Staff levels have also been dropping for GE’s rail unit, with 2,000 people losing their jobs in 2016, the Journal said, adding that GE Transport (~10,000) currently tops only GE Capital (~6,000) in number of employees among GE’s business divisions.
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