buyouts


GM offers buyouts to every one of its hourly workers

Yesterday, General Motors announced plans for another round of buyouts. Initial reports said the automaker would offer workers 50 years of age and older $20,000 cash and another $25,000 voucher towards the purchase of a GM vehicle. However, the Associated Press is now reporting that GM will offer every one of its hourly workers the opportunity to expand their career options. A UAW official confirms to the AP that the offer will be a one-time cash payout as well as a car-purchase voucher, but would not discuss specific amounts. The same ... Read more →

GM loses $15.5B in Q2 Chris Shunk

General Motors reported its second quarter earnings this morning, and the news was predictably grim. The General lost $15.5B in the quarter, as the Detroit Automaker continues to struggle with brutal ...

Ford offers up more buyouts to hourly workers Jeremy Korzeniewski

Ford is hoping to continue the reduction of both the number of vehicles the automaker will produce and, correspondingly, its hourly blue-collar workforce. In order to make good with the UAW, the same ...

GM says 17,398 workers took buyout Jonathon Ramsey

More than one-fourth of GM's 74,000 hourly employees are going to grab the loot and skedaddle. Earlier this year, UAW President Ron Gettlefinger estimated that 15,000 would put their hands out, but ...

Nearly 19,000 hourly workers take buyout from GM Damon Lavrinc

General Motors announced today that approximately 19,000 hourly employees have opted to leave the automaker's ranks in exchange for a buyout offer and retirement incentives. The offer was extended to ...

Ford readying bonuses for entire workforce 1 year ago on Autoblog

Ford is making significant strides to turn its North American operations around. In 2006, it was able to cut almost 34,000 workers from its payroll after one round of buyouts and is looking to cut even more of its workforce this year through another payoff program that's being offered to 54,000 ...

Ford to shed another 9,000 plant jobs 1 year ago on Autoblog

Over 2006 and 2007, Ford lost $15.3 billion. Over that same time and in light of those losses, the company also shed 33,600 union workers through buyouts and early retirement. Still working through the uphill part of the turnaround, Ford has announced it wants to eliminate another 8,000 to 9,000 ...

More buyouts for Chrysler plant workers 1 year ago on Autoblog

Car sales in the US are down, which is bad news for everybody in the industry, but Chrysler is among the automakers struggling most. To adjust factory production to lower demand, the Pentastar was preparing to lay off up to 5,000 workers when it cut shifts at several plants. Instead, to keep good ...

27,000 Ford workers have officially left the building 2 years ago on Autoblog

The Detroit Free Press is reporting today that since Ford began offering buyouts and early retirement offers to its hourly employees last year, about 27,000 have accepted and left the company. Since the offer was made last October to hourly workers at all of Ford's plants in North America, about ...

Chrysler buyouts hitting snags 2 years ago on Autoblog

When Ford and General Motors offered buyouts to their employees over the last two years, they each got more takers than they were looking for. Those companies chose to let most of the applicants have the buyouts and then hired temporary workers to fill the gap. This year, it was Chrysler's turn to ...

Whither the white collar: Ford set to buyout 10,000 salaried workers 3 years ago on Autoblog

Here come the pink slips for the white-collar guys and gals at Ford. And to speed up the exodus, 6 preprogrammed tags have been added to those termination notices. Actually, Ford Motor Co. is starting to offer buyouts to many of its salaried employees to help trim its U.S. payroll. As many as 85 ...

Ford announces 38,000 workers accepted buyout so far 3 years ago on Autoblog

As Ford works to restructure itself with the goal of becoming more competitive in the marketplace, the automaker has announced that 38,000 UAW-represented hourly workers have accepted buyout packages so far. Roughly 30,000 of those came through the recent open enrollment period, when a variety of ...

Ford buyouts start next week 3 years ago on Autoblog

Ford Motor announced Monday that it will make its planned buyout package available to all of its 75,000 hourly workers starting October 16. The company-wide plan follows previous efforts to cut jobs on a plant-by-plant basis, as the company shoots for its goal of cutting 30,000 hourly jobs by the ...

Acquisition and mergers and joint ventures, oh my! 3 years ago on Autoblog

Forbes automotive columnist Jerry Flint provides a history lesson of various automotive couplings and even triads to illustrate that while a few have been beneficial to one or (rarely) all parties, most fall flat on their faces. None, however, are easy for any of the parties, successful or not. ...

35,000 to bail on General Motors 3 years ago on Autoblog

It's not often that a company gets excited about 35,000 workers jumping ship via early retirement packages and buyouts, but when that company is General Motors, the bailage is a very good thing. The news means that General Motors is two years ahead of schedule in terms of shrinking its workforce, ...

Delphi reaches buyout agreement with second-largest union 3 years ago on Autoblog

Delphi has announced the successful negotiation of a buyout deal for its employees who are represented by the International Union of Electrical Workers (IUEW). Approximately 8,000 employees are eligible to participate, and will receive either lump-sum payments of $35,000 or packages ...






Autoblog Podcast #157: Mike Levine trucks along with us.

Mike Levine from PickupTrucks.com joins Chris, Sam, and Dan this week and gets a chance to talk about cars, too! 

 
 

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