GE has no cash, so once the union contract expires next year, there are no requirements for severance or plant closure benefits. Then anything goes! The question is when do the employment requirements for the EU expire? That will be the next big date for avoiding major cash payments for layoff benefits. I also expect next year GE will go to individual union contracts at the plant level. They no longer have to deal with Erie or Appliances so it makes sense to divide up based on business outlook!
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You know how I know this is bs. They are going to owe 30 million to France I’m Jan when their protections run out. And he is fine with it.