UAW, GE Aerospace Reach Tentative 5-Year Deal

GE Aerospace (NYSE:GE) is among the high growth mega cap stocks you can buy and hold for the next 3 years. On Friday, the United Auto Workers announced that it had signed a tentative five-year agreement with GE Aerospace (NYSE:GE) regarding employees at the company’s Evendale, Ohio, and Erlanger, Kentucky, facilities.

From job security and bonus vacation days to health care expenses, the deal covers all. Under the contract, GE Aerospace (NYSE:GE) has committed to bear almost all premium increases over the contract term. Apart from that, the union highlighted the inclusion of minimum staffing levels and new work for both sites.

This step became necessary because in August, as many as 600 workers called for a strike advocating for stronger protections and benefits. The members are set to vote on ratification on September 19, with picketing continuing until then. This tentative pact has been confirmed by GE Aerospace (NYSE: GE), which expresses its eagerness to strengthen this collaboration.

GE Aerospace (NYSE:GE), operated by General Electric Company, is an Ohio-based company that focuses on commercial and defense aircraft engines, mechanical aircraft systems, and engine components.

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