General Electric will release it's strategic plan later on today26/06/2018
The American multinational conglomerate General Electric (GE) is planning to shrink its healthcare business and divest its ownership in oil-services company Baker Hughes as part of its latest strategic review by chief executive John Flannery, the Wall Street Journal reported on Tuesday citing people familiar with the matter. GE's healthcare and oil & gas businesses make up for over $36 billion of its total revenue last year, while segments which could also be put for potential sale include the company's transportation and lighting businesses.
The latest spin-off is the conclusion of a yearlong process that has already led the company to slash its dividend and reveal plans to shrink a number of businesses. According to the report, the final plan will be presented to investors at some point later today, and it will leave the company to focus on its power, aviation and renewable-energy businesses which account for more than half of GE’s $122 billion in revenue last year. Also, the announced reduction in dividend payout is a part of an effort to pump more money into GE's failing finance segment, the report added.
Source: (www.ge.com, 2018)