Editing General Electric (section)

===Final years and three-way split (2018–2024)===
In 2018, the GE Pension Plan reported losses of US$3.3&nbsp;billion on plan assets.<ref>{{cite web |author1=General Electric |title=2018 General Electric Annual Report |url=https://www.ge.com/investor-relations/sites/default/files/GE_AR18.pdf |website=GE.com |publisher=General Electric |access-date=August 21, 2019 |page=130 |language=en |quote=Actual gain (loss) on plan assets – 2018 Principal pension plans ($2,996) millions   2018 Other pension plans ($299) millions |archive-url=https://web.archive.org/web/20190923162718/https://www.ge.com/investor-relations/sites/default/files/GE_AR18.pdf |archive-date=September 23, 2019 |url-status=dead }}</ref>

In 2018, General Electric changed the discount rate used to calculate the actuarial liabilities of its pension plans.  The rate was increased from 3.64% to 4.34%.<ref name="auto">{{cite web |author1=General Electric |title=2018 Annual Report – General Electric |url=https://www.ge.com/investor-relations/sites/default/files/GE_AR18.pdf |publisher=GE.com |access-date=August 20, 2019 |pages=39 |language=en |archive-url=https://web.archive.org/web/20190923162718/https://www.ge.com/investor-relations/sites/default/files/GE_AR18.pdf |archive-date=September 23, 2019 |url-status=dead }}</ref>  Consequently, the reported liability for the underfunded pension plans decreased by $7&nbsp;billion year-over-year, from $34.2&nbsp;billion in 2017 to $27.2&nbsp;billion in 2018.<ref name="auto"/>

In October 2018, General Electric announced it would "freeze pensions" for about 20,000 salaried U.S. employees.  The employees will be moved to a defined contribution retirement plan in 2021.<ref>{{cite news |author1=Alwyn Scott |author2=Ankit Ajmera |title=GE to freeze, pre-pay pensions to save up to $8 billion, cut debt |url=https://www.reuters.com/article/us-ge-pensions-idUSKBN1WM138 |work=Reuters |access-date=October 12, 2019 |language=en |date=October 7, 2019 |archive-date=October 12, 2019 |archive-url=https://web.archive.org/web/20191012112937/https://www.reuters.com/article/us-ge-pensions-idUSKBN1WM138 |url-status=live }}</ref>

On March 30, 2020, General Electric factory workers protested to convert jet engine factories to make ventilators during the [[COVID-19]] crisis.<ref>{{Cite web|url=https://www.vice.com/en/article/general-electric-workers-walk-off-the-job-demand-to-make-ventilators/|title=General Electric Workers Launch Protest, Demand to Make Ventilators|last=Ongweso|first=Edward Jr|date=March 30, 2020|website=Vice|language=en|access-date=March 31, 2020|archive-date=March 30, 2020|archive-url=https://web.archive.org/web/20200330182241/https://www.vice.com/en_us/article/y3mjxg/general-electric-workers-walk-off-the-job-demand-to-make-ventilators|url-status=live}}</ref>

In June 2020, GE made an agreement to sell its Lighting business to Savant Systems, Inc. Financial details of the transaction were not disclosed.<ref>{{Cite web|url=https://www.ge.com/news/press-releases/ge-sell-lighting-business-savant-systems-inc|title=GE to Sell Lighting Business to Savant Systems, Inc.|last=Sabol|first=Ben|date=May 27, 2020|website=GE|language=en|access-date=March 31, 2020|archive-date=June 14, 2020|archive-url=https://web.archive.org/web/20200614004838/https://www.ge.com/news/press-releases/ge-sell-lighting-business-savant-systems-inc|url-status=live}}</ref>

In November 2020, General Electric warned it would be cutting jobs waiting for a recovery due to the COVID-19 pandemic.<ref>{{Cite news |last1=Vats |first1=Rachit |last2=Kumar Singh |first2=Rajesh |date=November 24, 2020 |title=GE warns of more job cuts at aviation business amid sluggish recovery |language=en |work=Reuters |url=https://www.reuters.com/article/us-general-electric-jobs-idUSKBN2841ZH |url-status=live |access-date=November 25, 2020 |archive-url=https://web.archive.org/web/20201124202925/https://www.reuters.com/article/us-general-electric-jobs-idUSKBN2841ZH |archive-date=November 24, 2020}}</ref>

On November 9, 2021, the company announced it would divide itself into three public companies. On July 18, 2022, GE unveiled the brand names of the companies it had devised through its planned separation: [[GE Aerospace]], [[GE HealthCare]], and [[GE Vernova]].<ref>{{Cite web |title=GE Unveils Brand Names for Three Planned Future Public Companies {{!}} GE News |url=https://www.ge.com/news/press-releases/ge-unveils-brand-names-for-three-planned-future-public-companies |access-date=2022-09-04 |website=www.ge.com |language=en |archive-date=September 13, 2022 |archive-url=https://web.archive.org/web/20220913072716/https://www.ge.com/news/press-releases/ge-unveils-brand-names-for-three-planned-future-public-companies |url-status=live }}</ref><ref>{{Cite web |title=Commentary: Corporations break themselves up all the time. So why shouldn't regulators break up Big Tech? |url=https://fortune.com/2022/08/25/corporations-break-regulators-up-big-tech-ftc-sec-meta-alphabet-amazon-tech-denise-hearn/ |access-date=2022-09-04 |website=Fortune |language=en |archive-date=September 4, 2022 |archive-url=https://web.archive.org/web/20220904095827/https://fortune.com/2022/08/25/corporations-break-regulators-up-big-tech-ftc-sec-meta-alphabet-amazon-tech-denise-hearn/ |url-status=live }}</ref> The new companies are respectively focused on aerospace, healthcare, and energy (renewable energy, power, and digital). The first spin-off of [[GE HealthCare]] was finalized on January 4, 2023;<ref>{{Cite web |title=GE Completes Separation of GE HealthCare {{!}} GE News |url=https://www.ge.com/news/press-releases/ge-completes-separation-of-ge-healthcare |access-date=2023-01-08 |website=www.ge.com |language=en |archive-date=January 8, 2023 |archive-url=https://web.archive.org/web/20230108231832/https://www.ge.com/news/press-releases/ge-completes-separation-of-ge-healthcare |url-status=live }}</ref> GE continues to hold 10.24% of shares and intends to sell the remaining over time.<ref>{{Cite news |last=Francis |first=Theo |date=July 25, 2023 |title=GE Lifts Guidance as Sales and Earnings Rise |url=https://www.wsj.com/articles/general-electric-ge-q2-earnings-report-2023-1abab709 |work=[[The Wall Street Journal]] |url-access=subscription |access-date=October 17, 2023 |archive-date=October 25, 2023 |archive-url=https://web.archive.org/web/20231025162955/https://www.wsj.com/articles/general-electric-ge-q2-earnings-report-2023-1abab709 |url-status=live }}</ref> This was followed by the spin-off of GE's portfolio of energy businesses, which became GE Vernova on April 2, 2024.<ref>{{cite web |title=GE Plans to Form Three Public Companies Focused on Growth Sectors of Aviation, Healthcare, and Energy |url=https://www.ge.com/news/press-releases/ge-plans-to-form-three-public-companies-focused-on-growth-sectors-of-aviation |website=www.ge.com |publisher=GE News |access-date=26 October 2022 |archive-date=October 21, 2022 |archive-url=https://web.archive.org/web/20221021221917/https://www.ge.com/news/press-releases/ge-plans-to-form-three-public-companies-focused-on-growth-sectors-of-aviation |url-status=live }}</ref><ref name="bostonglobe-spinoff" /><ref name="afp-spinoff">{{cite web |last=Mazein |first=Elodie |date=April 1, 2024 |title=Swan song for General Electric as it completes demerger |url=https://www.yahoo.com/news/swan-song-general-electric-completes-015925420.html?guccounter=1 |url-status=live |archiveurl=https://archive.today/20240402022206/https://www.yahoo.com/news/swan-song-general-electric-completes-015925420.html?guccounter=1 |archivedate=April 2, 2024 |publisher=AFP |via=Yahoo! News |quote=The official finalization of the separation comes Tuesday, with General Electric disappearing in favor of GE Vernova, dealing with energy activities, and GE Aerospace, the new name of the late GE.}}</ref> Following these transactions, GE became an aviation-focused company; GE Aerospace is the legal successor of the original GE.<ref>{{cite web |title=GE 2021 Annual Report |url=https://www.ge.com/sites/default/files/GE_AR2021_AnnualReport.pdf |archive-url=https://web.archive.org/web/20220211145336/https://www.ge.com/sites/default/files/GE_AR2021_AnnualReport.pdf |archive-date=2022-02-11 |url-status=live |website=www.ge.com |publisher=GE |access-date=26 October 2022}}</ref><ref>{{cite news |last=Pound |first=Jesse |url=https://www.cnbc.com/2021/11/09/ge-to-break-up-into-3-companies-focusing-on-aviation-healthcare-and-energy.html |title=GE to break up into 3 companies focusing on aviation, health care and energy |work=[[CNBC]] |date=2021-11-09 |access-date=2021-11-09 |archive-url=https://web.archive.org/web/20211110032311/https://www.cnbc.com/2021/11/09/ge-to-break-up-into-3-companies-focusing-on-aviation-healthcare-and-energy.html |archive-date=2021-11-10 |url-status=live}}</ref><ref>{{Cite news |last1=Ganapavaram|first1=Abhijith |last2=Singh|first2=Rajesh Kumar |date=2021-11-09|title=GE, an industrial conglomerate pioneer, to break up|language=en|work=Reuters|url=https://www.reuters.com/business/ge-form-three-public-companies-2021-11-09/|access-date=2021-11-09 |archive-url=https://web.archive.org/web/20211109215139/https://www.reuters.com/business/ge-form-three-public-companies-2021-11-09/ |archive-date=2021-11-09 |url-status=live}}</ref> The company's legal name is still General Electric Company.