General Electric is giving Larry Culp more than 200 million reasons to stay and finish the job of turning around the storied conglomerate getting rocked by the pandemic.
In 2016, manufacturing giant General Electric's decision to move its Fairfield headquarters to Boston symbolized in some quarters a major consequence for perceived hostility former Gov. Dannel Malloy's administration harbored toward the business community.Â
General Electric is saying goodbye to the light bulb. The conglomerate is shedding a struggling but iconic business that it pioneered with Thomas Edison more than a century ago.
General Electric is cutting as many as 13,000 jobs in its jet engine business after the coronavirus pandemic brought devastation to the aerospace industry.
General Electric faced a do-or-die moment in late 2018. Financial markets were in chaos. Recession fears roared. And GE's stock price sank to unthinkably low levels.