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.
06/19, 4:14 PM
posted by:
xyunya
We know who the smartest are.
06/19, 4:17 PM
posted by:
SickofGarbageMotors
Take the money and run, it’s going to be a tough year.
06/19, 6:39 PM
posted by:
400horseSS
Unlike the ‘tards above me I think I’ll stay and ride it out, besides the worst is over anyway.
06/19, 7:07 PM
posted by:
johnnycanuck
Now that you’ve got them right where they want you, 400horse?
All kidding aside, I hope you’re right.
06/19, 7:16 PM
posted by:
brassmonkey
Does the price of gas have anything to do with this? Also, it has been more than 2 hours since my last Camaro story. Thank you, sir. May I have another?
06/20, 8:52 AM
posted by:
DeansterTJ
400, good luck if you think the worst is over. All I see is people running for cover from gas prices and everything else that’s inflating. I never saw so many people stay in and cook at home.
06/20, 9:24 AM
posted by:
HemiRoadRunner
Maybe if GM would come out with some vehivles that were: cool, fuel efficient, or new ideas. Oh wait, they have them, they’ll just take another 10 years to produce them while we continue to recieve our “spy” shots.
06/21, 12:58 AM
posted by:
Get Real
Rats.. of them rats.
Jumping ship as it sinks.