Tags: Buyouts

GM Offers Buyouts to Skilled Trades Workers

Tuesday, 14 Dec 2010 03:54 PM

General Motors Co. is offering buyouts to several thousand skilled trades workers at 14 plants around the U.S.

The automaker will pay eligible workers $60,000 to retire with full benefits. Younger workers will have the option to take the $60,000 in exchange for giving up retiree health care and other benefits.

GM spokesman Chris Lee didn't know how many workers will get the offers. The company estimates it has 2,000 more skilled trades workers than it needs right now. Skilled trades workers do jobs that need special training, like electrical work and welding.

Eligible workers will be notified by Dec. 23 and will have to leave the company by March 1.

This is the first buyout GM has offered since its 2009 bankruptcy.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Companies
General Motors Co. is offering buyouts to several thousand skilled trades workers at 14 plants around the U.S.The automaker will pay eligible workers $60,000 to retire with full benefits. Younger workers will have the option to take the $60,000 in exchange for giving up...
Buyouts
123
2010-54-14
Tuesday, 14 Dec 2010 03:54 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved