Friday, January 18, 2008

GM to Offer Buyouts to Most Hourly WorkersAccording to the Detroit News, General Motors is putting together a plan to offer buyouts to most of its 72,000 hourly workers. Included in the plan is an early-retirement offer to 46,000 workers. Some of these workers would be replaced with new, lower-paid workers under the two-tier wage system that was installed under the new UAW contract last fall. Nevertheless, the final outcome could be a larger net loss than the 36,000 worker buyout that GM undertook in 2005.
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