GE Statement On IUE-CWA Strike Announcement.Business Editors FAIRFIELD Fairfield. 1 City (1990 pop. 12,200), Jefferson co., N central Ala., an industrial suburb of Birmingham; inc. 1919. Founded (1910) by the United States Steel Corp., its steel industry has greatly declined, negatively affecting the city's economy. , Conn.--(BUSINESS WIRE)--Jan. 7, 2003 GE said today it had received strike notification from The International Union of Electronic Workers / Communications Workers of America Communications Workers of America (CWA) is the largest communications and media labor union in the United States (the union also has locals in Canada), representing over 700,000 workers in both the private and public sectors. (IUE/CWA) over changes in an employee health care plan that GE announced last summer. The changes were made in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with the terms of GE's collective bargaining agreement The contractual agreement between an employer and a Labor Union that governs wages, hours, and working conditions for employees and which can be enforced against both the employer and the union for failure to comply with its terms. with the IUE/CWA. The IUE/CWA represents about 13,900 employees, or about 5% of GE's total workforce. GE will meet customer needs during the strike, which the union says will last two days. The IUE/CWA has cited changes GE announced last summer that would increase four co-payments for employees participating in the GE Health Care Preferred plan by about $200 per employee in 2003. By contrast, GE's average health-care cost per employee is expected to be $2,350 higher in 2003 than in 1999. Since 1999, GE's total health-care costs have risen more than 40%, from $965 million to $1.4 billion. The co-payment co-payment Managed Care That portion of a claim or medical expense that a health plan member must pay out-of-pocket for specific medical services–eg, hospital care, drugs, office visits, etc; the insurer pays the remaining portion changes went into effect on Jan. 1, 2003, and will remain in effect. GE's health benefits remain among the best in the industries in which GE competes and in the marketplace. The number of GE employees enrolled in the Health Care Preferred plan increased last fall after the changes were announced. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion