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General Electric told investors Monday it has ousted CEO John Flannery after only about a year in the job. The company said it’s also going to miss profit forecasts this year. These are tough times at one of America’s most iconic businesses, which raises the question: What is the role of an industrial conglomerate like […]
General Electric Co. announced today it’s cutting 12,000 jobs in its core power business worldwide, as demand for coal and other fossil fuels softens. It’s the latest move by new CEO John Flannery to cut costs and turn things around at the struggling conglomerate, whose stock plunged 44 percent this year. GE Power is the company’s […]