May 30, 2019 / 6:30 PM / a year ago

CORRECTED-General Electric CEO says some efficiency efforts are just beginning

(Corrects first paragraph to say cutting costs for power unit headquarters, not overall power unit)

NEW YORK, May 30 (Reuters) - General Electric Co affirmed on Thursday that it expects negative free cash flow in the second quarter, and said its power unit plans to cut headquarters costs by about 20% over the next two years as it tries to become leaner.

GE’s power plant factory in Greenville, South Carolina, recently started efforts to use so-called lean manufacturing principles that aim to reduce costs and increase efficiency and quality, the company’s chief executive officer, Larry Culp, said at an investor conference in New York. (Reporting by Alwyn Scott Editing by Leslie Adler)

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