(Bloomberg) — General Electric Co. said it would freeze pension plan benefits for about 20,000 U.S. employees as it takes steps to slash its pension deficit and improve its financial position.The industrial giant aims to cut its pension shortfall by $5 billion to $8 billion, it said in a statement Monday. GE shares rose about 2 percent in pre-market trading in the U.S. The company had 97,000 U.S. employees at the end of 2018, or about a third of its worldwide workforce.In other measures, the company will pre-fund $4 billion to $5 billion of its estimated requirements for 2021 and …read more
Source:: Yahoo Finance
