Reuters reported Sunday that General Motors and the United AUto Workers were nearing a deal that would offer early retirement buyouts for thousands of GM and Delphi workers.

Talks were ongoing between the union and the two companies Sunday evening in Detroit, focusing on the payments and benefits package for early retirees.

No word on how many GM and Delphi hourly workers are likely to accept the offer. GM has said that it plans to eliminate 30,000 jobs by 2008. The company employs 105,000 hourly workers, while Delphi has about 23,000.

GM is badly in need of some good news - its stock price fell nearly 5 percent Friday in the wake of the company's upward revision of its 2005 losses.


I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • From Our Partners

    You May Like
    Links by Zergnet
    Cars for Sale Near You

    Share This Photo X