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GE, Unions Reach Tentative Agreement

Associated Press

HARTFORD, Conn. -- General Electric Co. and the two largest labor unions at the company reached tentative agreements on new four-year contracts, hours before the previous contracts were set to expire.

The company and the unions, which could have gone on strike beginning June 26 under the contracts that expired at midnight Sunday, said the proposed agreements would improve wages, pensions and benefits.

Terms of the new contracts with the International Union of Electronic Workers-Communications Workers of America and the United Electrical, Radio and Machine Workers of America were not released. The contracts would apply to more than 24,000 workers at the two unions and a number of local unions at sites across the country.