GM readies buyout of 20,000 workers
GM has apparently identified 37,000 "retirement-eligible" workers as it seeks to meet its target of reducing its payroll by 30,000 as part of its restructuring.
The buyout plan is a key step in keeping the UAW and Delphi on side, with the UAW pressing GM to take back Delphi workers as the bankrupt supplier struggles through a difficult restructuring. GM is also hoping to use the buyout to trim its swelling jobs bank - some 8,000 workers paid full wages and benefits after their jobs have been eliminated.
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