GE Ends Century-Old Development Program
In the midst of a multiyear turnaround plan, General Electric (NYSE: GE) is ending a more than 100-year-old employee development program, according to a Wall Street Journal report today. The company's Corporate Audit Staff (CAS) program began in the early 20th century, but CEO Larry Culp is ending it as another part of his effort to make the company more efficient.
Since Culp became CEO in October 2018, he has worked to sell assets and cut costs to improve the balance sheet. He has had to navigate through impacts the company has faced in several areas from the coronavirus pandemic.
Source Fool.com
