19,000 Workers Accept Buyout at G.M.

News Type: Event — Seeded on Thu May 29, 2008 4:43 PM EDT

Article Source: The New York Times

us-news, gasoline-prices, g-m, united-automobile-workers, harbour-report, long-term-success

General Motors on Thursday said that 19,000 hourly workers — a quarter of a unionized work force that already has been dramatically pared down — have accepted buyouts.

Most of the workers will depart within the next month, as G.M. formulates a plan to deal with plummeting demand for sport utility vehicles and pickup trucks while gasoline prices climb above $4 a gallon. The proportion of G.M. workers who took a buyout is more than triple the acceptance rate at Ford, where 4,200 of 54,000 workers took deals offered as part of a similar program.

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{"commentId":1855509,"authorDomain":"newsmix"}

Zap

Though G.M.'s 74,000 workers are on average older than Ford's, the size of the exodus at G.M. signals deteriorating confidence among members of the United Automobile Workers union in their employer and the industry.

{"commentId":1855509,"threadId":"271835","contentId":"1520605","authorDomain":"newsmix"}

2 votes

#1 - Thu May 29, 2008 4:44 PM EDT

{"commentId":1859887,"authorDomain":"rascal2pt0"}

Rascal 2.0

At least they got buyouts. GM has been suffering from Unionitus for a few years now and been trying to cut down on their operating costs.

{"commentId":1859887,"threadId":"271835","contentId":"1520605","authorDomain":"rascal2pt0"}

2 votes

#1.1 - Fri May 30, 2008 12:55 PM EDT

{"commentId":1860066,"authorDomain":"newsmix"}

Zap

You're right, "at least they got buyouts". That makes a huge difference to those losing their jobs.

{"commentId":1860066,"threadId":"271835","contentId":"1520605","authorDomain":"newsmix"}

2 votes

#1.2 - Fri May 30, 2008 1:18 PM EDT

{"commentId":1860741,"authorDomain":"thedoctori"}

thedoctori

Good that they got buyouts, but (macro) just when you thought the economy couldn't get any worse in places like Ohio and Michigan, it has...

{"commentId":1860741,"threadId":"271835","contentId":"1520605","authorDomain":"thedoctori"}

1 vote

#1.3 - Fri May 30, 2008 2:58 PM EDT

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	GM says 19K US hourly workers taking its buyout offers	Associated Press	Thu May 29	0
	GM may reassign workers from trucks to cars	Associated Press	Thu May 29	0

ZAP

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19,000 Workers Accept Buyout at G.M.

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