ˆ GM offers early retirement to 9,000 white collar workers

tags : early retirement , earlyretirement , gm , gm early retirement , gm white collar , gmearlyretirement , gmwhitecollar , white collar , whitecollar

As part of the ongoing numbers game between the Detroit 3, their workers and the UAW, General Motors has plans to offer more early retirement packages to some 9,000 of its white collar (non-unionized and salaried, that is) workers. For those who like to keep track of such things, that number represents about a third of the 27,000 white-collar, non-union workers who call the General their employer. If GM gets its wish, around half of those offered packages will accept and have plenty of time to keep those white collars clean and pressed for their next job interview. Employees offered the package will have 45-days to decide whether or not to accept. Although no real details of the care package have been released, rumor has it that GM has sweetened the pot a bit as compared to previous rounds of attrition by increasing the pension payments for younger workers.

posted : 9/14/2008 @4:42:50 AM

ˆ Ford to shed another 9,000 plant jobs

tags : buyouts , early retirement , earlyretirement , ford , ford factories , ford plants , ford restructuring , ford turnaround , fordfactories , fordplants , fordrestructuring , fordturnaround , uaw , unions

Over 2006 and 2007, Ford lost $15.3 billion. Over that same time and in light of those losses, the company also shed 33,600 union workers through buyouts and early retirement. Still working through the uphill part of the turnaround, Ford has announced it wants to eliminate another 8,000 to 9,000 factory jobs through buyouts.

If 8,000 workers end up leaving, that's almost 12 percent of Ford's current workforce walking out the door. They'll leave with benefits and a buyout that ranges from $50,000 to $70,000 depending on whether the position is a skilled trade. While it might seem like a lot of money, the point is that with the new labor agreement, Ford can hire new workers -- when the time comes -- for $26 to $31, instead of the $60-per-hour it pays now. The UAW figures the salary change could save Ford $1,000 per car.

Although 8,000 buyouts is Ford's target, the company is willing to accept more workers leaving. The offer has been extended to workers at four shuttered factories, and will be expanded next week to others. Those who don't want buyouts can be transferred to another factory. And if they don't accept the buyout or relocation, then they "will be placed on a 'no-pay, no-benefit leave,'" which sounds a lot less appealing than a 5-figure check.

posted : 2/12/2008 @5:21:18 PM

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