GE, unions reach labor agreement

Fairfield, Conn.-based General Electric Co. (NYSE: GE), has reached tentative agreements on new labor contracts with national leaders of its two largest unions: the International Union of Electronic, Electrical, Salaried, Machine and Furniture Workers-Communications Workers of America and the United Electrical, Radio and Machine Workers of America.

Workers at the company's GE Appliances division, which is based in Louisville, are represented by the IEU-CWA. The company has about 6,230 workers in Louisville, most of whom are unionized. The company makes dishwashers, washing machines, refrigerators and other products at its Appliance Park facility.

The agreements now are subject to review by union negotiating committees and ratification by union members, according to a news release from GE. The contracts include agreements on health care benefits, wages, pension and job and income security.

“I am extremely proud of our bargaining team for their persistence and focus on detail in achieving this new national contract, which I’m confident will be viewed by our membership as a winning contract that will increase their job security while also giving them improvements in benefits and wages," IUE-CWA president Jim Clark said in the release.

Delegates from the IUE-CWA and the UE are expected to meet this week to review the tentative agreement and decide whether to submit it to members for a ratification vote. If recommended for approval by union leaders, the ratification votes are expected to take place by the end of the month.

GE has about 16,500 unionized employees nationwide. The IUE-CWA represents about 9,300 GE employees, and its labor agreement covers GE locations including workers in Louisville (GE Appliances); Lynn, Mass. (GE Aviation); and Schenectady, N.Y. (GE Power & Water). The UE represents about 3,480 employees and its labor agreement includes Erie, Pa. (GE Transportation) as the largest site.

This labor agreement comes at an interesting time for GE Appliances workers. GE is in the process of selling its appliances division to AB Electrolux. The deal is going through the regulatory process now.

Source: Louisville Business First