General Electric Company (GE) confirmed on Thursday its plans to downsize on its Boston's Ford Point headquarters. According to the company, the original intentions, which included the construction of a glassy 12-story tower, the creation of 800 new jobs and the reimbursement of $87.4 million in incentive packages to the state of Massachusets, are now being reconsidered.
However, GE will keep its headquarters in Boston, but the initial plan will be scaled down. The financial difficulties the company has been experiencing recently might be one of the reasons for the downsize. GE is expected to employ around 250 people in its Necco complex.