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View Full Version : Economics GM reveals incentive package as it tries to shed workers


Deberg_1990
06-02-2009, 11:34 AM
http://www.kansascity.com/business/story/1228379.html



It seemingly has become an annual (or semiannual) event, but area autoworkers are being given another chance to leave the troubled industry.

The latest incentive package from General Motors Corp. came as part of the concessions the United Auto Workers union accepted last week in the companyís ongoing restructuring.

GM is offering $20,000 cash and a $25,000 car voucher to production workers who decide to retire with their benefits.

For skilled-trades workers, the cash portion of the retirement package is $45,000 with the same car voucher.

For those not eligible to retire, GM also is offering more cash to walk away and sever all ties with the company, along with the $25,000 car voucher.

Employees with less than 10 years could get $45,000. Those with at least 10 years but less than 20 are being offered $80,000. For those with 20 years or more, itís $115,000.

Those with 28 or 29 years at GM are being offered a bridge to retirement, with the company providing a monthly gross wage of $2,850 or $2,900 until qualifying for retirement.

Although GM has offered a series of separation packages since 2006, this one is in conjunction with the companyís Chapter 11 bankruptcy filing. This program begins June 9, and employees will have until July 24 to accept one of the offers.

The deadline could be moved back for several of the factories that are idled in June as part of GMís decision to dramatically cut back 2009 production in an effort to reduce dealer inventories.

About 300 people from the Fairfax plant accepted the most-recent severance package. The Fairfax plant, which has about 2,300 hourly employees, has continued operating in preparation for the launch of the redesigned 2010 Buick LaCrosse. The facility also produces the Chevrolet Malibu and Saturn Aura.

Ford buyouts

Ford Motor Co. has pushed back the deadline on its separation program, which had been set to expire May 22. Initially offered on April 1, the retirement and buyout package available to all Ford hourly employees was extended to June 26, said Angie Kozleski, a Ford spokeswoman.

Fordís offer for production workers set to retire is the same as GMís, a $20,000 lump-sum payment and $25,000 car voucher. For skilled-trades workers, the cash payout is $40,000 with the same car voucher.

For any employee with at least one year on the job who wishes to sever ties with the automaker, Ford is offering a cash payout of $50,000 with the $25,000 car voucher.

Ford also has an education option.

The company is offering to pay up to $15,000 in annual tuition for two years.

Those who accept that option also will keep their Ford health benefits for those two years, according to Kozleski.

Ford has nearly 4,000 hourly employees at the Claycomo plant, building the F-150 pickup and the Ford Escape/Mercury Mariner SUV.

In two separation packages offered last year, only about 255 area Ford workers decided to leave the company.

Cannibal
06-02-2009, 11:44 AM
We've already lost 3,000,000 manufacturing jobs since 2000. It's going to be interesting to see how many we have left when the economy gets better.

SBK
06-02-2009, 12:20 PM
I wonder if this is part of the sacrifice Obama says we've been "called" to make so that the America of the future still makes cars.

Cannibal
06-02-2009, 12:46 PM
I wonder if this is part of the sacrifice Obama says we've been "called" to make so that the America of the future still makes cars.

This has been going on since 2000 or longer. GM has been reducing it's workforce for years now.

***SPRAYER
06-02-2009, 12:49 PM
I wonder if this is part of the sacrifice Obama says we've been "called" to make so that the America of the future still makes cars.

Everybody sacrifices except UAW members who vote 99.9% democrat.

Deberg_1990
06-02-2009, 01:19 PM
Everybody sacrifices except UAW members who vote 99.9% democrat.


Heh...this.

CoMoChief
06-02-2009, 01:36 PM
a $25,000 car voucher? **** THAT

Here we're gonna lay you off, but we at least still want you to buy our vehicles. Here.....have a coopon.

Deberg_1990
06-02-2009, 01:43 PM
a $25,000 car voucher? **** THAT

Here we're gonna lay you off, but we at least still want you to buy our vehicles. Here.....have a coopon.


Because they know if they just handed them $25K in cash, they would go buy a Toyota or Honda. :)

SBK
06-02-2009, 04:44 PM
How come nobody has talked about how people are finding the dealers being shut down were big republican donors, and they're finding a lot of cronyism in who's getting to keep their dealership??

mlyonsd
06-02-2009, 07:47 PM
Great, now my tax dollars are being spent on severance packages for union workers while the thousands of employees displaced by dealership closings get nothing.

Still, it's better than sending my tax dollars to kill unborn babies in other countries.

prhom
06-02-2009, 11:07 PM
If I was offered $45k to leave GM I'd probably get a speeding ticket on the way out of the parking lot. That's assuming I hadn't left, oh say, back when the company first thought they were going bankrupt. Those are ridiculous severance offers for people who have been drawing 80% pay and not doing a damn thing for the last 6 months.

stevieray
06-02-2009, 11:29 PM
Brian Deese.

Jenson71
06-02-2009, 11:33 PM
Everybody sacrifices except UAW members who vote 99.9% democrat.

Workers have been forced to a lot of concessions. I'm quite sure you haven't sacrificed more than a dollar and fifty cents.

But...yeah, the assembly workers for GM are destroying America. All the anger in this thread needs to be directed at them. Continue on.

Jenson71
06-02-2009, 11:37 PM
Brian Deese.

dot dot dot exclaimation hoo-ah juppity juppity juppity

stevieray
06-02-2009, 11:39 PM
dot dot dot exclaimation hoo-ah juppity juppity juppity
:nosmilie:

Jenson71
06-02-2009, 11:44 PM
:nosmilie:

Is this . . . what? As relevant and meaningful a post as one you've just offered? I think you should qualify your posts. It helps your point, if you have one.

stevieray
06-02-2009, 11:46 PM
Is this . . . what? As relevant and meaningful a post as one you've just offered? I think you should qualify your posts. It helps your point, if you have one.

:nosmilie:

Jenson71
06-02-2009, 11:48 PM
What is your point, stevieray?

nosmile smilies don't usually cut it as explanations.

stevieray
06-02-2009, 11:51 PM
you're my point, stevieray!



:nosmilie:

Jenson71
06-02-2009, 11:55 PM
That doesn't make sense. I usually hold your Dr. Phil psychology and vapid inanities to a high standard, so I'm worried about you now.

stevieray
06-03-2009, 12:02 AM
you're still my point, stevieray!


:nosmilie:

Jenson71
06-03-2009, 12:04 AM
How are you my point? Just explain so I can correct this misunderstanding and this can stop.