GM readies buyout of 20,000 workers

The Detroit News reported Sunday that GM and the UAW are in the closing stages of negotiating a buyout plan that would cover up to 20,000 GM and Delphi employees.
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.

Share This Photo X