GM and Chrysler to offer new round of employee buyouts

[Omaha Steve]

http://www.laborradio.org/node/10423

Automotive News reported Monday that two U.S. automakers are offering new incentives to employees in an attempt to reduce labor costs. GM is offering $20,000 in cash and a $25,000 new vehicle voucher to employees who are willing to quit. GM will also likely offer early retirement to workers with 10 years of service over the age of 50. Chrysler is also considering options to buyout employees. The offer could likely include a cash buyout offer of $50,000 and a $25,000 vehicle voucher for eligible retirees and a $75,000 cash buyout for workers not eligible for buyouts.