GM/UAW concession talks commence
It's a monumental task, but GM needs to undertake serious financial concessions to implement their restructuring plans. These include eliminating up to 31,000 jobs, closing down nine assembly plants, shutting 1,750 dealerships, and possibly eliminating the Saturn brand. Of course, they also have to renegotiate the 2007 UAW labor contract with GM. The UAW has resisted wage and benefit cuts, but without union compromise GM could be forced to file bankruptcy... something none of the players wants to see happen.
[Source: Detroit News]
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