Employees, Shareholders Wait for Announcement on GE's Future Mon - Erie News Now | WICU & WSEE in Erie, PA

Employees, Shareholders Wait for Announcement on GE's Future Monday

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Workers at Erie's GE Transportation, other company employees and stockholders are waiting to see what the new CEO plans for the future of the company.

John Flannery is expected to reveal his strategy Monday.

Insiders and analysts expect a major overhaul of how the company operates - from shedding entire business units to a potential dividend cut and layoffs for GE's 300,000 person workforce

Investors are expected to get the update at a meeting Monday.

GE shares are down 37% this year. That's at the same time the S&P 500 is up about 15 percent. GE stock is hitting lows not seen since 2012.

Most analysts expect a dividend cut for the first time since 2009. When Flannery took over in June, he said the dividend was safe but signaled in October that may be changing.

Some expect him to break up the company. Locomotives and transportation could be affected.

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