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7,500 Hourly UAW Workers Take GM Buyouts

The total is now 60,500 buyouts since '06

By Ambreen Ali,  Newser User

Posted Mar 26, 2009 10:49 AM CDT
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(Newser) – General Motors has convinced 7,500 unionized, hourly workers to accept buyouts and exit the company as early as next week, the Wall Street Journal reports. The automaker offered $20,000 in cash and $25,000 car vouchers—far less than previous offers—in this latest round of cuts to match declining demand, and prove to federal overseers that the company is viable. The vacated positions may be filled with new hires at half the rate, Bloomberg adds.

General Motors offered $20,000 in cash and $25,000 car vouchers to some of those departing.
General Motors offered $20,000 in cash and $25,000 car vouchers to some of those departing.   (AP Photo/Paul Sancya, file)
Some 7,500 union workers accepted General Motors' buyout offer of $20,000 and a $25,000 car voucher.
Some 7,500 union workers accepted General Motors' buyout offer of $20,000 and a $25,000 car voucher.   (AP Photo)
The latest round of buyouts brings GM's totals to 60,500 workers since 2006.
The latest round of buyouts brings GM's totals to 60,500 workers since 2006.   (AP Photo/Paul Sancya, file)
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COMMENTS
Showing 3 of 3 comments
BackAgain
Mar 26, 2009 8:04 AM CDT
Wow and we got pissed off about AGI people that had nothing to do with the derivatives. Now you know why the Unions and Obama are in bed-they both believe in bailouts.
Fondue
Mar 26, 2009 5:21 AM CDT
At least on one channel.
AnnieChrist
Mar 26, 2009 4:40 AM CDT
Should make for some interesting, perceptive 'analysis' from the talking heads and their 'pundits.' How the greedy, slothful unionized workers-the guys& girls who actually produce something of value-are getting a whopping $45K worth of severance, and for some a whopping $800 monthly pension too. Somewhere in the mix, one of the 'pundits' will find a way to blame this egregious display of avarice as the cause of GM's downfall, and through some extravagant contortion of logic will find a way to justify the gazillion $ bonuses of those who created 'wealth' by formulating and pushing fraudulent financial prestidigitations.

 
General Motors • Detroit • buyout • Big Three • US automakers

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