FAIRFIELD, Conn. - Members of the two largest unions at General Electric Co. have ratified new four-year contracts, officials said Wednesday. þþþThe International Union of Electronic Workers/Communications Workers of America and the United Electrical, Radio and Machine Workers of America (UE), which represent 16,500 employees, ratified the deal. þþþTerms of the new contracts have been offered to eleven other unions that have local contracts with GE and represent another 7,900 GE employees. Agreements have been completed with most of these units, GE said. þþþThe contract agreement was struck on June 15. þþþÿWe are confident that these contracts are good for our employees and good for GE,ÿ said William J. Conaty, GE senior vice president for human resources. ÿWe are gratified that our union-represented work force agrees.ÿ þþþThe contract will increase wages by 16.5 percent over four years for the average hourly employee, union and GE officials said. þþþUnion officials also hailed the contract for restraining employee-paid health care costs, which was a major dispute between the company and unions. The agreement provides for some increases in health care premiums, but also involves substantial pension improvements. þþ
AP
