Possible casualties at GE
As General Electric struggles to turn around declining share value, it’s stripping down to focus on three core areas — power, health care equipment and aviation. Here are some of the areas it’s looking to cut: GE TRANSPORTATION — the manufacturer of freight and passenger locomotives. The Chicagobased unit brought in $4.7 billion in 2016.
CURRENT — an energy subsidiary started by GE in 2015 and based in Boston, with 50 employees here and 2,300 overall. It began with
$1 billion in revenue from prior GE branches.
GE LIGHTING — one of the oldest branches of General Electric, dating to Thomas Edison himself. Energy revenues, including Current, topped $15 million in 2016.
BAKER HUGHES — GE owns nearly two-thirds of the oil services company after a merger earlier this year, but could sell its stake.