General Electric freezing pension plan for 20,000 of its U.S. employees

General Electric freezing pension plan for 20,000 of its U.S. employees

General Electric announced it will freeze the pensions of 20,000 U.S. salaried workers, a measure designed to reduce its pension deficit and trim debt. The move will shave GE’s pension deficit by as much as $8 billion and its net debt by as much as $6 billion.