BOSTON—General Electric Co. is scaling back its planned Boston headquarters, including selling the property and dropping plans to add hundreds of jobs, because the shrinking conglomerate no longer needs the facilities. The company reached an agreement with Massachusetts to return $87 million of incentives and jointly sell the waterfront site. GE plans to lease back some of the buildings to house its senior executives and about 250 employees, down from initial plans to add about 800 staff.

Source: Wall Street Journal February 14, 2019 22:12 UTC