Foundry Daily News

GM Offers More Buyouts

<font size="2">DETROIT, Ohio (USA)&nbsp;- General Motors is offering a new round of buyouts to 74,000 U.S. hourly workers.</font>

<font size="2">GM announced the buyouts this morning as it was releasing its fourth-quarter and full-year earnings. GM said it lost nearly 39 billion dollars in 2007.</font>

<font size="2">The company has more than 10,000 UAW-represented workers in Ohio at an assembly plant in Lordstown, fabricating plants in Parma and Mansfield, a foundry in Defiance, a transmission plant in Toledo, and storage and distribution sites in Groveport and West Chester.</font>

<font size="2">Workers who are within four years of their 30th anniversary can retire early and get reduced pay until their full retirement kicks in. Workers who are at least 50 with a decade of service can retire with reduced pension and health benefits.</font>

Youtube Linkedin Xing