GE stock is trading down today after General Electric (NYSE:GE) announced that it would be freezing 20,000 pension plans in an effort to cut its debt.
GE shares have been on the slide for quite a while due to financial mismanagement, and CEO Larry Culp, who recently passed one year in the role, has taken a number of measures to try to turn the company’s fortunes around. In the latest round of debt paring efforts, GE will freeze the pensions of 20,000 employees with salaried benefits. The freeze will become effective from January 1, 2021, and ...
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