General Electric Co said on Monday it was freezing the pension plan for about 20,000 U.S. employees with salaried benefits, as the industrial conglomerate looks to cut its huge debt pile. The company will also freeze supplementary pension benefits for about 700 U.S. employees, and these actions are expected to reduce net debt between $4 billion and $6 billion, GE said. GE and its finance arm had total borrowings of about $105.8 billion as of June 30, with industrial net debt at $54.4 billion. …read more
Source:: Yahoo Finance
