GE offering early retirement plans to longtime workers

Casperman · 06-06-2008, 11:55 PM

Just wonder what yalls opinion on this one... as yallknow ford did same thing

GE offering early retirement plans to longtime workers

11:30 AM EDT on Friday, June 6, 2008

GE names leading candidates to buy appliance unit

GE confirms plans to exit appliance business

Louisville, Ky. (WHAS11) - WHAS11 news has learned that General Electric is offering nearly 200 longtime union workers early retirement as part of a deal that would keep it’s big warehouse from being sold or outsourced to another company.

The warehouse at Appliance Park is one of the largest in the world. The company has been looking at its options to save costs.

WHAS11 News has learned that 183 senior employees from across appliance park will get an early retirement package.

In exchange, the company would hire 183 new workers at a lower starting wage. This would save GE 14 million dollars.

Before anything happens, the union must o.k. the deal later this month.

A GE spokesman says the impending sale or spinoff of the appliance division did not impact the decision on the warehouse.

Statement from Kim Freeman of General Electric:
GE Consumer & Industrial leaders have been in discussions with officials of IUE-CWA Local 761 in Louisville to find ways to make its AP10 warehouse more competitive. In 2007, Appliance Park lost $24 million. A proposal has been presented to make all of the jobs in the warehouse Competitive Wage positions, which would save nearly $14 million and bring Appliance Park closer to profitability. The Competitive Wage Agreement is a wage structure designed to make Appliance Park more competitive in the global marketplace with starting pay at $14.19 an hour. Under the warehouse proposal, 183 early retirement options or SEROs would be provided and give early retirement opportunities for certain long-service hourly employees. GE would replace those employees with 183 new hires from the community.

Union members will vote on June 11 to decide on this matter. We are hopeful that is passes and that GE and the union can continue to work together to make Appliance Park as competitive as possible. If the vote does not pass, as previously announced, the company will seek other options, which could include selling the AP10 warehouse as an ongoing operation or outsourcing to a third party provider.

GE continues to explore the strategic options for the Appliances business. The proposal to make the AP10 Warehouse operation more competitive is a separate action that began more than a year ago.

06-06-2008, 11:55 PM	#1 (permalink)
Casperman Registered User Join Date: Aug 2004 Location: state of fast horses, fast ladies and hillbilly drunkards Posts: 433	GE offering early retirement plans to longtime workers Just wonder what yalls opinion on this one... as yallknow ford did same thing GE offering early retirement plans to longtime workers 11:30 AM EDT on Friday, June 6, 2008 GE names leading candidates to buy appliance unit GE confirms plans to exit appliance business Louisville, Ky. (WHAS11) - WHAS11 news has learned that General Electric is offering nearly 200 longtime union workers early retirement as part of a deal that would keep it’s big warehouse from being sold or outsourced to another company. The warehouse at Appliance Park is one of the largest in the world. The company has been looking at its options to save costs. WHAS11 News has learned that 183 senior employees from across appliance park will get an early retirement package. In exchange, the company would hire 183 new workers at a lower starting wage. This would save GE 14 million dollars. Before anything happens, the union must o.k. the deal later this month. A GE spokesman says the impending sale or spinoff of the appliance division did not impact the decision on the warehouse. Statement from Kim Freeman of General Electric: GE Consumer & Industrial leaders have been in discussions with officials of IUE-CWA Local 761 in Louisville to find ways to make its AP10 warehouse more competitive. In 2007, Appliance Park lost $24 million. A proposal has been presented to make all of the jobs in the warehouse Competitive Wage positions, which would save nearly $14 million and bring Appliance Park closer to profitability. The Competitive Wage Agreement is a wage structure designed to make Appliance Park more competitive in the global marketplace with starting pay at $14.19 an hour. Under the warehouse proposal, 183 early retirement options or SEROs would be provided and give early retirement opportunities for certain long-service hourly employees. GE would replace those employees with 183 new hires from the community. Union members will vote on June 11 to decide on this matter. We are hopeful that is passes and that GE and the union can continue to work together to make Appliance Park as competitive as possible. If the vote does not pass, as previously announced, the company will seek other options, which could include selling the AP10 warehouse as an ongoing operation or outsourcing to a third party provider. GE continues to explore the strategic options for the Appliances business. The proposal to make the AP10 Warehouse operation more competitive is a separate action that began more than a year ago. __________________

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