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CBC Negotiation Committee Meets with GE Company

The Union Coordinated Bargaining Committee (CBC), main table coalition, recently met with GE Company Officials in Cincinnati, Ohio in a Pre-Negotiations benefits and business update.
Union discussions were led by President and CBC Chairman Carl Kennebrew and IUE-CWA Conference Board Chairman Jerry Carney, while Paul Lalli, Head of Union Negotiations for GE, led the company delegation.
Company representatives provided presentations and discussions on topics such as Active Healthcare, Retirement Income, and Wages & Overtime to include other related benefits.
In addition to the above benefits, GE Overview and Business updates were presented for Aviation, Healthcare, and Power sectors of the business. It was stated that this is challenging times for the GE Company, referencing the decline of stock price from 2015 to 2018.
The company said during these challenging times, competitiveness and managing cost are paramount for the future of GE and its employees. They stated that cuts at the executive level have been made, and structures have been changed, to move the company balance sheet in the right direction.
In 2018 GE’s new CEO signed compensation package of up to $21 Million a year in salary, bonuses and stock for the next four years. In 2019 the CEO will receive an annual salary of 2.5 million, with a bonus of about $3.75 million along with equity awards valued at $15 million.
While GE’s lead negotiator says that there is a long and proud history of GE working collaboratively together with their labor unions, we need to walk away with a contract that is fair to our employees.
Your Union CBC main table negotiators will be meeting April 16, 17, 2019, in Dayton, Ohio to continue to prepare for the official start of negotiations in June 2019. The Healthcare CBC subcommittee will be meeting on April 10-12, 2019 for continued work on the proposals.