UAW Bends to Boost Bailout

Concessions meant to help Big Three win financial help from feds
By Ambreen Ali,  Newser User
Posted Dec 3, 2008 2:09 PM CST
United Auto Workers members listen to union president Ron Gettelfinger speak at a news conference today.   (AP Photo)
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(Newser) – The United Auto Workers agreed today to concessions that may help Detroit get $34 billion in federal assistance, the Detroit News reports. The union’s job bank—which pays eliminated employees 95% of their base salaries—will be suspended, and the UAW will delay billions in payments to its health care trust fund. Though union president Ron Gettelfinger skated inquiries about wage cuts, he said contract modifications were possible.