Nearly 19,000 hourly workers take buyout from GM

[jamz]

Filed under: Hirings/Firings, Plants/Manufacturing, GM, UAW/Unions
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 74,000 UAW workers in an attempt to swap out highly paid long-termers with lower-paid new employees as the General realigns its financial situation. Workers have had months to make the decision, but GM is giving them another week to rethink their choice. Employees that have made the final decision will leave no later than July 1, 2008. The effect of nearly 19,000 hourly employees taking buyouts apparently wasn't enough to right the S.S. General Motors as the massive automaker just announced that a new restructuring plan with more buyouts and layoffs is on its way.

[Source: GM]Continue reading Nearly 19,000 hourly workers take buyout from GM

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