General Motors and the auto parts supplier it once owned, Delphi Corp., on Wednesday announced deals with the United Auto Workers that would offer buyouts to 13,000 hourly Delphi employees and up to 100,000 hourly GM workers represented by the United Auto Workers, The Associated Press reported.
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GM workers will be eligible for payouts of between US$35,000 and $140,000 depending on their years of service, AP added. At Delphi, up to 5,000 workers will be eligible to return to GM, Delphi’s former parent company, while 13,000 US hourly workers will be eligible for a lump sum payment of up to $35,000 to retire.
The report said the Delphi plan must be approved by a bankruptcy court that is hearing its case.
GM’s plan doesn’t require approval, and company spokesman Dan Flores told The Associated Press that retirements could begin as early as 1 June.
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