On a morning that General Electric Co. released its second quarter results, the company is also realizing it has to deal with some serious labor strife.þAfter voting down GE's four-year contract, earlier in the week, the International Association of Machinists and Aerospace Workers has told GE its members, who work for GE's aerospace and healthcare divisions, intend to go on strike.þÿOur working men and women at GE deserve a contract that mirrors their efforts in helping make GE aviation and medical the company's most profitable divisions,ÿ IAM International President Robert Martinez Jr. said in a statement. ÿThe history of this contract has helped set the standard across the manufacturing industry. Our members are choosing respect and dignity over corporate greed.ÿþþIt's unclear if the move by the IAM would force the hand of GE's largest union, the IUE-CWA, which represents GE Power workers in Schenectady and aerospace workers in Lynn, Mass.þThose workers rejected the contract during voting earlier this month as well, but so far have been unwilling to tear up the existing contract and strike.þEither side can give the other a 10-day notice to terminate the contract. Several of GE's smaller unions have already ratified the contract. GE has 6,600 union workers represented by 11 different unions. Workers with the IUE-CWA say GE's offer lacks adequate wage increases and has severe health care increases.þThe IAM, which represents workers in Ohio and Wisconsin, said the strike would begin Aug. 12, leaving open the door to negotiate a different contract.þÿOur IAM members in Wisconsin and Ohio have spoken overwhelmingly that GE's contract was a concessionary proposal,ÿ IAM General Vice President Brian Bryant said in a statement. ÿIt's time for GE to recognize the value our members contribute to the economic health of this corporation and bargain a fair contract.ÿþOn Wednesday morning, GE posted a net loss of $61 million for the quarter on $28 billion in revenue. It's power plant division in Schenectady saw orders fall 21 percent to $4.9 billion.þThe overall GE results were negatively impacted by a $744 million non-cash goodwill impairment charge — all on paper — to GE's Grid Solutions business.þþÿIn response to the union's request, we are finalizing a date and location to discuss the proposed agreement during this 10-day period,ÿ a GE spokesman said in a statement. ÿWe continue to believe that the proposed four-year contract provides solid wage increases and improved benefits to employees while keeping our businesses competitive. The agreement has been endorsed by our largest union, the IUE-CWA, and ratified by several Coordinated Bargaining Committee unions covering nearly 1,100 members.þÿWe are committed to serving our customers and have contingency plans in place to continue meeting their needs.ÿþþ
Source: www.timesunion.com
