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GE to freeze pension plans for about 20,000 U.S. employees in bid to cut debt

GE to freeze pension plans for about 20,000 U.S. employees in bid to cut debt

Boston’s General Motors is freezing the pension plans of about 20,000 of its workers and offering pension buyouts to 100,000 former employees as it attempts to reduce its mountain of debt. It has been selling off assets and streamlining its operations. It has about $105.8 billion in overall debt.

ardurren 1 year

how the fuck does GE have debt? they dont even pay taxes last I heard, the subsidiary shuffle I call it... in our grandparents day this is one of the companies that would have been dissolved not just fined...

Skeptic 1 year

Could we hear about how this affects workers, not just GE debt?

porcus 1 year

This is surprising and I bet there will be some lawsuits filed. My understanding is that this pension contribution is considered part of the employee's compensation.

FirstCensorshipThenJail 1 year

Are they freezing paying salaries to the executives, as well as, putting a lean on every board member's personal asset? There is an unstated rule that Wall Street Inc needs to be reminded of. You mess with your fellow Americans we will take everything you have, will ever have, and will send you packing back to your Royalty. America first means "Look after the working class".

not the 1%
not the 1% 1 year

If the US had an actual “left” party, the workers would be “considered” in policy—- as it stands ...”who gives a shit?”...

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