GE (GE) to cut costs, jobs, Immelt says. But he downplays fear of a China slowdown: "There is...

|By:, SA News Editor

GE (GE) to cut costs, jobs, Immelt says. But he downplays fear of a China slowdown: "There is this real consumerization of China taking place before our eyes. It will happen in our time." Shares fell 5% Friday to $17.83.