By Thomas Gryta

General Electric Co. promised to cut $1 billion in costs from its industrial operations this year, and to more closely tie top executives' bonuses to profits in its core industrial business.

The changes outlined Wednesday follow discussions with activist investor Trian Fund Management, which has been pressuring the conglomerate to boost profits.

GE executives recently acknowledged the company was unlikely to reach a long-term goal to deliver $2 a share in industrial profits in 2018.

Write to Thomas Gryta at thomas.gryta@wsj.com

(END) Dow Jones Newswires

March 22, 2017 09:58 ET (13:58 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.
GE Aerospace (NYSE:GE)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more GE Aerospace Charts.
GE Aerospace (NYSE:GE)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more GE Aerospace Charts.