Auto News: GM Proposing 401(k) for New Hires
Trade paper Automotive News (autonews.com - free registration required) says that GM has proposed replacing its traditional pension with a 401(k) plan for new hires. The article also says that GM is proposing putting a hold on cost of living raises to UAW members in order to pay for the retirees' VEBA that has been the focus for all of the current negotiations.
There is a blackout on news from the negotiations, and I have not seen the Autonews report confirmed. I'm not betting my paycheck on its accuracy.
Subscribe to:
Post Comments (Atom)
May its true. Thanks for the post.
ReplyDelete