General Electric, the industrial conglomerate founded by Thomas Edison in 1892, is breaking up. GE announced plans Tuesday to split into three separate companies.
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General Electric is giving Larry Culp more than 200 million reasons to stay and finish the job of turning around the storied conglomerate getting rocked by the pandemic.
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FieldCore Service Solutions, a subsidiary of General Electric, is shutting down its operations in Wilmington and is laying off 261 employees.
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GE Aviation is laying off 10 percent of its workforce, the comapny announced early Monday. Some 400 people work at the big GE jet engine plant in Durham.
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Jack Welch, who was named “Manager of the Century” by Fortune magazine in 1999, massively increased the scope and financial might of GE during his time at the top of the company.
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It’s not just General Electric’s share price, dividend and bottom line that have contracted. GE’s once-sprawling workforce is also shrinking in dramatic fashion.
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General Electric CEO Larry Culp is turning to his former company as he continues to dismantle of GE.
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General Electric’s slow-motion breakup with the lighting industry it pioneered continues. It’s selling commercial LED maker Current to private-equity firm American Industrial Partners.
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Left in the dark about GE’s underlying health, shareholders and even longtime Wall Street analysts were caught off guard when the company’s business dramatically deteriorated. But now GE is under new management.
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