General Electric Co. will issue new debt to prefund $6 billion in pension contributions next year, according to an investor update presentation from the company.

The news came as GE announced a massive restructuring of its sprawling business units and a 50% cut in its dividend.

GE sponsors two principal defined-benefit pension plans, and nearly 50 legacy plans the industrial giant assumed over decades of acquisitions, according to the firm's 2016 10-K filing with the Securities and Exchange Commission.

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