General Electric CEO says some efficiency efforts are just beginning

May 30, 2019

NEW YORK (Reuters) – General Electric Co affirmed on Thursday that it expects negative free cash flow in the second quarter, and said its power unit plans to cut costs by about 20% over the next two years as it tries to become leaner.

GE’s power plant factory in Greenville, South Carolina, recently started efforts to use so-called lean manufacturing principles that aim to reduce costs and increase efficiency and quality, the company’s chief executive officer, Larry Culp, said at an investor conference in New York.

(Reporting by Alwyn Scott; Editing by Leslie Adler)

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