PG&E 2014 Annual Report Download - page 39

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31
The Utility’s success depends on the availability of the services of a qualified workforce and its ability to maintain satisfactory
collective bargaining agreements which cover a substantial number of employees. PG&E Corporation’s and the Utility’s results
may suffer if the Utility is unable to attract and retain qualified personnel and senior management talent, or if prolonged labor
disruptions occur.
The Utility’s workforce is aging and many employees are or will become eligible to retire within the next few years.
Although the Utility has undertaken efforts to recruit and train new field service personnel, the Utility may be faced with a shortage
of experienced and qualified personnel. The majority of the Utility’s employees are covered by collective bargaining agreements
with three unions. Labor disruptions could occur depending on the outcome of negotiations to renew the terms of these agreements.
In addition, some of the remaining non-represented Utility employees could join one of these unions in the future.
PG&E Corporation and the Utility also may face challenges in attracting and retaining senior management talent
especially if they are unable to restore the reputational harm generated by the negative publicity stemming from the ongoing
enforcement proceedings. Any such occurrences could negatively impact PG&E Corporation’s and the Utility’s financial condition
and results of operations.