GE’s power business, the company guided 2019 FCF to be “down,” or more negative than the negative $2.7 billion in 2018, with 2020 expected to be “significantly better but negative.”
Within power, GE said its gas business is starting to see progress, but it’s still “early in a multi-year journey.” The company is targeting a reduction in base costs of 11% to $3.2 billion in 2019, followed by a further 13% reduction in 2020 to $2.8 billion.
Another 24% in cuts coming= More Layoffs! Hopefully the next wave hits me