© Reuters. FILE PHOTO: The General Electric Co. logo is seen on the company’s corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019. Picture taken July 23, 2019. REUTERS/Alwyn Scott
CHICAGO (Reuters) – General Electric (NYSE:) Co plans to wind down physical office space in Boston and some other corporate sites as it prepares to split into three independent businesses, a company spokesperson said on Tuesday.
The industrial conglomerate plans to spin off its healthcare business next year, and combine its power and renewable energy units to be spun off in 2024. GE itself will then become an aviation company.
The spokesperson said GE’s global headquarters will remain in Boston “at this time”, adding the company is working to locate a new and smaller office space.
