11.07.2019 04:32:05

GE Union Workers Reject New Contract

(RTTNews) - General Electric Co. (GE) workers voted against a new four-year contract.

A majority of total votes cast were in approval of the contract, but numerous local unions voted against the deal. Under the union's rules, there was enough of a protest vote to reject the contract.

"As we reported last night, the majority of individual IUE-GE members voted to approve the contract; however, our position is that the GE Conference Board Rules established in the IUE-CWA Merger Agreement is the controlling document, so the Per capita vote controls," the union IUE-CWA said.

IUE-CWA said, "A per capita vote means that if 50% plus one members voted "No" at any location, the entire local membership is recorded as having voted "No" and the same applies if 50% plus one voted "Yes." The Per Capita vote results are 1,591 yes and 2,001 no, so the contract is hereby rejected."

IUE-CWA said that it will contact GE to notify the results. GE's obligation to bargain continues.

"Today, the IUE-CWA informed GE that although a majority of its members approved the four-year national labor contract, its Conference Board Rules resulted in the proposed agreement being turned down," GE said Wednesday. "We strongly believe the contract is a good package for employees, and a majority approval vote of IUE-CWA membership reflects that."

General Electric and its national labor unions reached a tentative labor agreement last month, but it still had to be voted on by local unions.

The tentative four-year agreement covers about 6,600 workers in 11 unions who work across various GE businesses, including GE's power turbine factory in Schenectady and an aviation factory in Lynn, Massachusetts.

The tentative agreement included three raises and two cash payments over the next four years. The proposed new contract also includes updates to GE's overtime policy, extra contributions to the GE Retirement Savings Plan and changes to health care plans.

Analysen zu General Electric Co.mehr Analysen

Eintrag hinzufügen
Hinweis: Sie möchten dieses Wertpapier günstig handeln? Sparen Sie sich unnötige Gebühren! Bei finanzen.net Brokerage handeln Sie Ihre Wertpapiere für nur 5 Euro Orderprovision* pro Trade? Hier informieren!
Es ist ein Fehler aufgetreten!