GE to freeze pensions for about 20,000 U.S. workers to cut debt
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. The company has announced net debt reduction actions of between $9 billion and $11 billion, including tender offers to purchase up to $5 billion of its existing debt, in the past one month. …read more […]
