press release: ge's tentative agreement (6/19/2011)
TRANSCRIPT
8/6/2019 Press Release: GE's Tentative Agreement (6/19/2011)
http://slidepdf.com/reader/full/press-release-ges-tentative-agreement-6192011 1/2
GE, UNIONS REACH TENTATIVE AGREEMENTS ON NEW CONTRACTS
NEW YORK, N.Y. – June 19, 2011 – GE today reached tentative agreements on new labor contracts
with national leaders of its two largest unions, IUE-CWA and the United Electrical, Radio andMachine Workers of America (UE), after four weeks of intense negotiations. The agreements aresubject to review by union negotiating committees and ratification by union members by June 30,2011.
GE’s existing four-year national contracts with IUE-CWA and the UE expire at midnight tonight.
The four-year job packages provide gains in wages, pension and job and income security. Thecontract provisions will also be extended to additional unions that have local contracts with GE.
IUE-CWA President Jim Clark said, “I congratulate our negotiating committee on working hard toreach an agreement that addresses critical issues for both our union members and the Company.”
IUE-CWA GE Conference Board Chairman Bob Santamoor said, “This was a hard-fought negotiations.We’ve made significant strides f rom where we started to reach a deal that we can bring back to themembers. The contract also offers a special early retirement window for long-service employees, akey issue for our union members.”
Clark and Santamoor are recommending acceptance of the tentative agreement to the IUE-CWA
negotiating committee and the conference board.
UE General President John Hovis said, “While the proposal contains important improvements andadvances, it also contains certain disappointments. However, given the current economic climateoverall it’s an agreement we can support.”
Hovis is recommending acceptance of the tentative agreement to the UE negotiating committee andconference board.
GE Vice President John Loomis said, “We have achieved our goal of creating a fair and balancedcontract that continues to provide excellent pay and benefits to our employees while allowing GE toremain competitive. The new contract is endorsed by the union leadership and benefits the
Company. It proves why GE jobs continue to be among the best in the country.”
The IUE-CWA/GE local union leaders will meet Wednesday to review the tentative agreement anddecide whether to submit it for a ratification vote. The UE/GE Conference Board will meet Tuesday toreview the contract and on Thursday will make a recommendation to its members. If recommendedfor approval by union leaders, the ratification votes will be conducted by June 30.
The unions affected by these tentative agreements represent approximately 15,200 GE employees inthe U.S. These unions are members of the Coordinated Bargaining Committee (CBC) of GE Unions.
8/6/2019 Press Release: GE's Tentative Agreement (6/19/2011)
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National negotiations are conducted with IUE-CWA and the UE, and local contracts are negotiatedwith other CBC unions.
The IUE/CWA represents about 7,900 GE employees and its labor agreement covers GE locationsincluding Louisville, Ky. (GE Appliances); Lynn, Mass. (GE Aviation); and Schenectady, N.Y. (GE Energy).The UE represents about 3,100 employees and its labor agreement includes Erie, PA (GETransportation) and Fort Edward, NY (GE Energy). Contracts negotiated with additional unions at thelocal level represent the remaining 4,000+ unionized employees.
For more information, visit www.ge.com/negotiations.
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About GE
GE (NYSE: GE) is a diversified infrastructure and finance company taking on the world’s toughestchallenges. From aviation and power generation to financial services, healthcare solutions, oil andgas and rail, GE operates in more than 100 countries and employs about 300,000 people worldwide.For more information, visit the company's website at www.ge.com.
Contact:
Susan Bishop
Director, Corporate Communications
GE
+1 203-253-2735 (mobile)