Following the pattern of wage cuts at other suppliers, American Axle is prepared to offer buyout packages of $80,000 to $110,000. American Axle may also offer buy-down deals that will give workers a bonus for a number of years to cushion the blow of wage cuts. So far the strike has done little to hurt GM, as the automaker has been able to pare-down SUV and truck inventories while its plants are idled, but it's only a matter of time until the best available vehicles are gone. The 20,000 workers at GM and several suppliers that aren't working because of the strike are likely a bit more worried, but at least the two sides are talking.
[Source: Detroit News]