General Electric (GE) today unveiled a comprehensive restructuring plan designed to streamline operations and enhance shareholder value. The initiative focuses on GE’s core industrial businesses, including energy, aviation, healthcare, and transportation.

The company plans to divest non-core assets and businesses that do not align with its strategic priorities. This includes exploring options for its plastics division and certain financial services units. GE believes that focusing on its strengths will lead to improved financial performance and greater efficiency.

“This restructuring is a critical step in transforming GE into a more focused, agile, and competitive company,” said Jeffrey Immelt, Chairman and CEO of General Electric. “We are committed to creating long-term value for our shareholders, and this plan will enable us to achieve that goal.”

The restructuring is expected to be completed over the next 12-18 months. GE anticipates that the changes will result in significant cost savings and increased profitability. The company will provide further updates on its progress in the coming quarters.

Analysts generally view the restructuring positively, noting that it addresses concerns about GE’s complexity and lack of focus. However, some analysts caution that the execution of the plan will be crucial to its success.