GE’s Flannery Wants to Cut Assets in Wake of ‘Horrible’ Results



After GE produced what he called “horrible” results, CEO John Flannery is planning to cut upwards of $20 billion worth of assets, Reuters reported.

Reuters noted that GE shares tumbled by roughly 6% before finishing up 1% on Friday.

Reuters also said GE stock is down at least 40% since September 2001 when former CEO Jeff Immelt took over.


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