Corning
Headquarters:
One Riverfront Plaza
Corning, NY 14831
Phone: (607) 974-9000
Employees: 26,000
CEO: Wendell Weeks
Stock Symbol: GLW
Website:
http://www.corning.com
Career Site
Corning Incorporated is the world leader
in specialty glass and ceramics.
Corning creates and makes keystone components
that enable high-technology systems for consumer electronics,
mobile emissions control, telecommunications and life sciences.
The company's products include glass substrates for LCD televisions,
computer monitors and laptops; ceramic substrates and filters
for mobile emission control systems; optical fiber, cable, hardware
& equipment for telecommunications networks; optical biosensors
for drug discovery; and other advanced optics and specialty glass
solutions for a number of industries including semiconductor,
aerospace, defense, astronomy and metrology.
The company's four main market segments
include display technologies, environmental technologies, telecommunications
and life sciences.
In 2008, Corning had sales of $5.9 billion, up 1.5% from the previous year.
Corning announced plans to reduce its workforce by about 3,500 employees, or 13%, before the end of the year. About 1,500 of the reductions are salaried employees. The company is also in the process of eliminating more than 1,400 temporary workers.
Corning and Dow Chemical each own half
of Dow Corning Corporation, a Michigan-based manufacturer of
silicone products.
History
Amory Houghton was a talented and ambitious
man who sought and seized opportunity. In his 20's, he embarked
on his first business venture, establishing his own contracting
business after a successful apprenticeship as a carpenter and
builder. In the following years, Houghton dabbled in real estate
and trading, which eventually led to a wharf in Cambridge where
he traded coal, wood and other materials. He pursued this until
shortly after 1851 when a chance meeting with British glassmaker
"Gaffer" Teasdale inspired him to see his future in
glass.
Houghton's ownership in the small glass
companies Cate & Phillip (later called Bay State Glass) and
the Union Glass Works led to his eventual purchase of the Brooklyn
Flint Glass Works in Brooklyn, NY. By this time, Houghton's oldest
son, Amory Jr. (1837 1909), was involved in the family
business and the idea of moving upstate -- where materials and
real estate were cheaper -- was taking shape. In 1868, a small-town
banker with big ideas approached Houghton with a plan. Soon after,
Houghton moved his company to Corning, NY and changed the company's
name to reflect its new home.
The present Corning corporation was incorporated
in New York state in 1936. Its name was changed from Corning
Glass Works to Corning Inc. in 1959.
For over 150 years, Corning has developed
life-changing innovations including the glass for Edison's light
bulb, ultra-thin glass for Active Matrix Liquid Crystal Displays
(AMLCDs), ceramic substrates for diesel and automotive emissions
control, and the first commercially viable, low-loss fiber for
use in telecommunications.
Benefits
Medical
Corning medical plans vary by location, with most sites offering
more than one plan. All U.S. locations offer an "opt-out"
credit for employees who choose to waive medical coverage.
Dental
Corning offers a choice of two dental plans - a comprehensive
plan and a preventive plan. You choose the plan that meets your
needs. All U.S. locations offer an "opt-out" credit
for employees who choose to waive dental coverage.
Vision
Vision coverage is available to employees and their eligible
dependents. Enrollment is automatic with participation in any
Corning medical plan.
Flexible Spending Accounts
Both Health Care and Dependent Care (child care or elder care)
FSAs are available at Corning.
Disaiblity
Short-Term Disability (STD) provides income coverage for up to
26 weeks, while Long-Term Disability (LTD) provides coverage
after 26 weeks. Employees are automatically enrolled in STD and
Basic LTD, and Corning pays the full cost of coverage.
Long-Term Care Insurance
Optional Long-Term Care Insurance is available via payroll deductions
for employees and their spouses. Coverage is also available for
other eligible family members (parents, stepparents, grandparents
and in-laws) interested in pre-planning for long-term medical
expenses, such as skilled nursing or home health care.
Survivor Benefits
The Corning Survivor Benefit Plans offer financial protection
in the event of death or accidental injury. The plans include:
- Basic Life Insurance - You may choose coverage of two times
your annual base pay or one times your annual base pay. If you
choose one times annual base pay, you will also receive an opt-out
credit.
- Business Travel Accident Insurance
- Group Universal Life Insurance
- Spouse and/or Dependent Child Group Universal Life Insurance
- Voluntary Accidental Death & Dismemberment Insurance
- Educational Scholarship Program
Corning Investment Plan
The Corning Investment Plan is Corning's 401(k) savings program.
Employees receive the advantage of Company Matching Contributions
on a percentage of employee contributions.
Cash Balance Pension Plan
The Cash Balance Pension Plan helps to build income for an employee's
future. It's a secure company-paid benefit that grows steadily
throughout your career at Corning.
Worldwide Employee Share Purchase Plan (WESPP)
The Worldwide Employee Share Purchase Plan (WESPP) provides employees
an easy way to buy shares of Corning common stock at a discount
through automatic payroll deductions.
Financial Planning Services
This benefit helps employees take control of their money and
get the most out of their Corning Advantages benefits program.
It is provided at no cost to employees.
Group Legal Services
Optional, employee-paid benefit provides employees, and their
eligible dependents with a broad range of legal services.
Paid Time Off
Corning's paid time off programs vary by location but generally
provide for a set number of paid holidays per year, along with
vacation time (based on length of service).
Other Benefits
- Employee Assistance Program
- Adoption Assistance Program
- LifeWorks
- Matching Gifts Program
- Educational Assistance
- Company-Sponsored Training
- Professional & Technical Dues
Updated January 27, 2009
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