GE Announces Details Of Proposed Labor Contract
BOSTON – June 26, 2019 – GE (NYSE:GE) today announced details of the new proposed four-year collective bargaining agreement that will be voted on by members of the 11 GE unions in the Coordinated Bargaining Committee (CBC) by July 11, 2019.
“We are pleased to announce the details of the proposed agreement, which provides good wages and meaningful benefits to our employees while addressing the unique challenge we face today to return GE to a position of strength,” said Paul Lalli, GE’s chief negotiator. “The IUE-CWA delegates have voted to recommend the new contract to its members for ratification, and the other CBC unions have approved sending the proposed agreement to their membership for a ratification vote.”
The four-year agreement was reached on June 24, 2019, after 21 days of negotiation.
Select details of the contract include:
- Three general wage increases totaling $1.80, two cash payments totaling $3,000, and a ratification bonus of $1,500
- A strong foundation for retirement, including pension improvements and extra contributions to 401(k) plan
- No medical contribution increases in 2020, low- or no-cost medications, and new maternity care coverage in select markets
- Help for job and retirement transitions, including increased training and placement support
- Valuable improvements to other benefits, including paid leave for new parents, enhanced pay for military service, and increases to short- and long-term disability benefits
There are approximately 6,600 GE employees represented by contracts with 11 GE unions that are part of the CBC. The IUE-CWA is the largest of the GE unions; others include the IAM, UAW, IBEW, and IFPTE. The current labor agreements cover employees at a number of U.S. facilities, including in Lynn, Mass., Evendale, Ohio, Madisonville, Ky., and Strother, Kan., for GE Aviation; Schenectady, N.Y., for GE Power; Bucyrus, Ohio, for GE Lighting; and Milwaukee, Wis., and Waukesha, Wis., for GE Healthcare.
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GE Media Contact:
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