FAIRFIELD, 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 (IUE/CWA) over changes in an employee health care plan that GE announced last summer.
The changes were made in accordance with the terms of GE's collective bargaining agreement 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 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.
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CONTACT:
General Electric
Gary Sheffer, 203/373-3476