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Approximately 19,000 GM Hourly Employees to Take Buyout

Approximately 19,000 of GM’s 74,000 US hourly employees have decided to take an early retirement or buyout package. Most of the employees participating in the company’s attrition program will leave the company no later than 1 July 2008.

GM will fill job openings with current employees whenever possible, as spelled out in the provisions of the GM/UAW national labor agreement. In facilities where GM needs new employees, those individuals would be hired in at the entry-level wage and benefit structure. The extent of the new hiring at each facility will be determined on a plant-by-plant basis.

This attrition program gives us an opportunity to restructure our US workforce through the entry-level wage and benefit structure for new hourly employees.

—Troy Clarke, Group Vice President and President, GM North America

Clarke recognized UAW leadership’s role in negotiating the 2008 attrition program.

Comments

Goodbye you pathetic parasitic POS "american" leaches. You deserve sOOOOOOOOOO much less!!!!!!!!

fred

This wont work for long, the UAW doesnt like dual tier wage schedules, and with 25% of the workers being new hires with no real stake in the company, dont be surprised that they strike when union management tells them that they can double their wages if they strike for a few months. It doesnt matter what GM does, the UAW that got them in over their heads on wages and medical before, will do it again ( notice that they forced GM to pony up $200 million for American Axle!).

What would happen to UAW members pension fund if the Big-3 close shop in USA and migrate to other countries under various other names or alliances?

That's exactly what happened to Singer Canada. The legal fight lasted for 40+ years. When it was setled, only 6 ex retired employees were still alive and recieved a few dollars for a few months.

UAW may have already squeezed the juice to the last few drops. There will soon be more retired members than working members. When that happens, working members may have to contribute the major part of their salaries to the pension fund or......

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