General Electric freezes pensions of 20,000 employees, offers buyout to 100,000

0
5

American multinational conglomerate, General Electric has on Monday suspended the pension of its 20,700 United States employees and also offers pension buyouts to 100,000 to shed its debt.

The move according to USAToday is part of the company’s effort to shed debt as it continues to downsize amid financial struggles.

GE said the buyout offer would take the form of lump-sum payouts to former U.S. employees who have not yet begun receiving their pensions.

Continue reading General Electric freezes pensions of 20,000 employees, offers buyout to 100,000 at Vanguard Nigeria.