OTHER NEWS - Dec. 16, 1994
Edison Freezes All Non-Union Wages for 1995: In an attempt to cut costs, Southern California Edison Co. told employees in a letter from Chairman and Chief Executive John E. Bryson that non-union wages for clerical employees will be frozen through next year. The move affects about 9,600 of Edison’s 17,800 workers. Also announced was an incentive program designed to give bonuses to the same group, ranging from 5% to 15% if performance goals are met. The company announced that it does not now plan across-the-board layoffs, though Chief Financial Officer Alan Fohrer said Edison “will continue to review the work force as we’ve been doing since 1993” as it prepares for coming competition under the state’s plan to deregulate the electric utility industry.
For the record:
12:00 a.m. Dec. 19, 1994 For the Record
Los Angeles Times Monday December 19, 1994 Home Edition Business Part D Page 3 Column 3 Financial Desk 2 inches; 69 words Type of Material: Correction
Southern California Edison--Due to an editing error, an item in Friday’s Briefly column misstated the range of employees at Southern California Edison Co. whose salaries will be frozen in 1995 in a cost-cutting move. Non-union employees, ranging from clerical workers to senior management, are subject to the hold on raises. Chairman and Chief Executive John E. Bryson and 19 other officers will voluntarily forgo both 1995 salary raises and 1994 bonuses, which would have been paid in 1995.
