General Electric scales back Boston HQ plans

• GE originally announced in March 2016 that it would move its headquarters from Connecticut to Boston's Seaport District, including the construction of a new campus on a 2.7-acre site. The company expected to employ around 800 people and anchor a new innovation hub that was expected to include participation by other local companies and universities.
• But that deal was done under former CEO Jeff Immelt, and the company has since seen its stock lose over two-thirds of its value.
• Today's announcement includes the reimbursement of the money originally used to acquire and prepare the new headquarters site — and the actual property will now be jointly marketed for sale to someone else. GE will still move into the new facility, but with only around 250 employees.

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