The numbers are in and GE is continuing its downsizing, right sizing or what ever term you want to use to soften the conversation. But 78,000 employees removed from the payroll in 2019 with more coming in 2020. The aggressive position the CEO is taking will be playing out for 2020, 2021 and beyond. With the pressure that Harry Markopolos put on GE with fraud in GEs accounting, the race is on and GE is playing hard.
With 175 manufacturing facilities eliminated, pending sales of assets (Pharma biz), will it be enough. They have reduced their debt by $10B to $90B. Working to correct.
With hard headwinds like Coronoavirus disruption and the 737 MAX problems, will GE be able to pull it off. Give them credit for working to solve. If Mr. Markopolos is right in his assessment, then if any part of GE's careful plan falls short, it is all done for GE.