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UE Condemns General Electric's Attack
On Benefits of Salaried New Hires
SUBSTANTIAL CUTS IN benefits of General Electric salaried employees
hired after Jan. 1, 2005 received unanimous condemnation from local
union leaders on Dec. 1 as unfair and a potential threat to all GE
Meeting at the national headquarters of the United Electrical, Radio and
Machine Workers of America (UE) in Pittsburgh, delegates representing
the UE-GE local unions nationwide said the company?s action is, ?even by
GE standards, a particularly egregious example of corporate arrogance.?
Affected by the benefit cuts are all union-exempt and many non-exempt
salaried employees hired after Jan. 1.
GE will eliminate: all post-65 retirees? medical coverage, all
company-paid medical insurance coverage for early retirees, all early
retirement supplements, early retirement with a full pension at age 60,
and benefits associated with permanent job loss events.
The UE-GE Conference Board said in a resolution that the company action
eliminates for new hires benefits negotiated by the union over the past
quarter-century and previously applied to all GE employees. "Ultimately,
these cuts represent a grave threat to all GE employees, present and
future, hourly and salaried alike."
The union leaders asserted the company has no legitimate economic reason
for making these cuts, as the GE Pension Plan continues to be overfunded
by many billions of dollars.