Crisis-stricken GE to unveil painful roadmap to salvation

Iconic American industrial behemoth General Electric, which has lost investor confidence amid bad investment decisions, is preparing to slice up its empire again, selling major business segments and laying off thousands.

Hammered by financial markets, with its market capitalisation down more than $100 billion since January, the maker of jet engines and power turbines is paying dearly after making losing bets that the energy sector, in particular oil and gas, would grow indefinitely.

Shareholders appear resigned to a cut in dividends, the first since 2009, as GE had only $7 billion in cash flow at the end of September, but was due to pay out $8 billion.