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GE Ties Bonuses to New Targets

Management faces 20% cut in payouts if objectives arent met.

By Thomas Black and Devin Banerjee, Bloomberg | Updated on March 22, 2017

General Electric Co. said it would cut management bonuses if the company fails to meet certain financial targets, as CEO Jeffrey Immelt vowed to cut costs after stepped-up talks with activist investor Nelson Peltz.

Executive payouts will drop 20% if the company doesn’t meet its target for $17.2 billion in industrial operating profit this year and falls short of a new goal of lowering “base costs” by $1 billion, to $23.9 billion. GE also set a cost objective of $22.9 billion for next year.

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