Chrysler Offers New Round of Buyouts
Nov. 2, 2009
|
|
|
|
DETROIT (UPI via COMTEX) -- U.S. automaker Chrysler Group LLC says it has offered buyouts and early retirements to 23,000 workers in a bid to cut costs.
The automaker said Friday that while terms vary from plant to plant, they are similar to offers made previously this year under its bankruptcy proceedings, The Detroit News reported.
The newspaper said only hourly workers represented by the United Auto Workers are eligible and that they have until Nov. 13 to accept a package. It reportedly consists of cash and vehicle vouchers, as well as some pension benefits and healthcare coverage.
Chrysler spokeswoman Shawn Morgan told the News the latest buyout offers are a continuation of those unveiled under the company's bailout deal with the U.S. Treasury.
The newspaper said the offers are coming just as Chrysler is preparing to release the details of its five-year business plan, which is expected to include a new vehicle line-up and other measures to return it to profitability within two years.
Source: Copyright 2009 by United Press International
|
