With the U.S. auto market in the midst of a freefall, the domestic automakers are trying harder than ever to streamline their operation is order to return to profitability. The landmark deal inked with the UAW last year was the first major step in the right direction and General Motors announced on Thursday just how helpful that deal was.
Since late last year, 18,657 of GM’s U.S. hourly workers have accepted retirement or buyout packages – just over 25 percent of the company’s 74,000 blue collar workers.
The finally tally also includes 1,259 workers that took retirement deals before the buyouts were announced, according to Automotive News.
GM’s deal with the UAW allows for the auto giant to hire new workers at about half the pay of current UAW employees. All 74,000 workers were offered buyout packages.
