Post Number: 9
Votes: 0 (Vote!)
|Posted on Thursday, March 23, 2006 - 09:31 am: ||
If you were a G M employee would you take the money and run, now or gamble that it'll be there if you stay until your actual retirement date?
Before you answer this question think about this, 5 or 6 years ago this offer would have been unheard of.
The New York Times
March 23, 2006
G.M. Will Offer Buyouts to All Its Union Workers
By MICHELINE MAYNARD
DETROIT, March 22 — General Motors reached a landmark agreement Wednesday with the United Automobile Workers intended to reduce sharply the ranks of a generation of auto workers long envied by other blue-collar workers for their wages and benefits.
G.M., staggering under the weight of $10.6 billion in losses last year, said it would offer buyouts and early-retirement packages ranging from $35,000 to $140,000 to every one of its 113,000 unionized workers in the United States who agreed to leave the company.
At the same time, Delphi, the nation's biggest automotive parts maker and a unit of G.M. until seven years ago, will offer buyouts of $35,000 to 13,000 U.A.W. members, of 24,000 on its factory floors.
"Cyniquian" Level Poster
Post Number: 260
Votes: 0 (Vote!)
|Posted on Thursday, March 23, 2006 - 10:21 am: ||
If I were a GM employee, unless my retirement date is within the next couple of months, I'd take the buyout now. The way things are going with GM, once this buyout window is over, they are going to start laying ppl off. And I don't believe the laid-off employees will receive such a generous package. Actually, the way things look to me - GM is on the verge of bankruptcy. There's a possibility that they will renege on their existing pensions, health insurance and all the other benefits that ppl have worked for, for so long. GM employees need to wake up and smell the coffee, this is not business as usual. That whole operation is getting ready to crash and burn. That's what I think about it.