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...buyouts have been the chief topic of conversation in GM plants for the past couple of weeks. "I expect about 60% of the people are going to take it," says John Weizman, union member from UAW Local 653 in Pontiac. "I know I'm thinking about it," adds Weizman, who first signed on with GM in Dayton, Ohio, more than twenty years ago and has now moved four times as GM has downsized...
...What exactly are GM's workers being offered...
...GM workers interested in quitting or retiring will be eligible for payouts of between $35,000 and $140,000, depending on their years of service and whether they want to keep benefits such as health care coverage, company and union officials said. GM currently has 113,000 hourly employees, including 36,000 with more than 30 years service, and all of them will be eligible for buyouts...
...GM says it is prepared to start offering buyouts to some workers as soon as next week, and it believes that 25% to 30% of its 126,000 eligible employees will eventually accept the packages. That means that over the next two years, the buyouts should enable GM to trim its hourly workforce in the U.S. - which approached 500,000 during the late 1970s - to around 80,000 or less, according to Sean McAlinden of the Center for Automotive Research in Ann Arbor, Michigan. In addition, the hourly payroll at Delphi, the supplier company GM spun off in 1999, could...
...Will the deal help turn around GM...