American Axle & Manufacturing has announced that 558 UAW-represented workers have accepted a buy-out offer from its Buffalo, New York, plant.
Go deeper with GlobalData
The separation programme was offered to around 650 workers at the gear, axle & linkage factory which halted production in December 2007.
AAM offered a range of retirement incentives and buy-outs from September 2007.
Last August AAM estimated that it would incur special charges of up to $US85million for the programme, including pension and other postretirement benefit curtailments and special termination benefits.
Yesterday it estimated the total cost of the programme at about $56m.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
