General Electric has substantially overhauled its operating structure, but is leaving media unit NBC Universal unchanged.
GE says it is combining several divisions to shrink from 11 operating segments to six, hoping to cut $200 million-$300 million in annual costs.
The company's units will be aligned into GE Infrastructure, GE Industrial, GE Commercial Financial Services, GE Healthcare, GE Consumer Finance, and NBC Universal.
GE is shifting two divisions – the appliances and lighting unit and equipment services – into the industrial segment. GE Infrastructure will now encompass energy, jet engine, rail and water.
NBC Universal Chairman Bob Wright will continue to report directly to CEO Jeffery Immelt.