The main item on the agenda at the meeting was approval of the merger. While some shareholders expressed concerns about job losses and pension cutbacks, the proposal passed. The last major hurdle is approval by US and European Union regulators. US officials are said to be taking a look at the two companies' aerospace businesses.
Bonsignore said that workforce overlap and staff-related questions in general "are still being negotiated." But he admitted that all 550 positions at the company's Morris Twp. facility are at risk because of significant overlap with the staff at GE's research center in Schenectady, NY.
"Going forward, I don't think that anything is guaranteed," Bonsignore told shareholders.
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