Weak GE’s $4.2B move

General Electric sliced its dividend in half Monday, saving the beleaguered industrial giant $4.2 billion annually as it seeks to regain its footing after more than a decade of lagging profits and poor stock performance.

The reduction comes as the manufacturing conglomerate put in motion a sweeping overhaul that includes plans to revamp its board of directors and sell off business units, including its storied lighting business.