GM Offers Buyouts to 74K Hourly Workers
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DETROIT -- General Motors Corp., eager to lower wages and staunch the kinds of losses it saw in 2007, said Tuesday it is offering a new round of buyouts to all 74,000 of its U.S. hourly workers who are represented by the United Auto Workers.
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The United Auto Workers union set a Monday morning deadline for reaching a contract deal with General Motors Corp. and threatened to send 73,000 GM factory workers on strike if no deal is reached.
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Investor Kirk Kerkorian said he may   consider buying up to 12 million additional shares of General   Motors Corp. GM.N common stock, according to a filing on   Thursday with the U.S. Securities and Exchange Commission.
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Ford Motor Co. will offer three buyout programs to US salaried employees and said it plans to fire workers if fewer than 10,000 agree to leave.
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Negotiations between General Motors  Corp  and its major union ran through a fifth day of  overtime on Wednesday with the automaker suggesting a trust  fund that would take over nearly $5 billion in annual health  care costs, according to a person familiar with the proposal.
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Ford Motor Co.  on Wednesday said  about 38,000 of its union workers have accepted its buyout  offers, part of a broad restructuring effort at the  second-largest U.S. automaker.
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Chrysler offered buyouts of as much as $100,000 to most of its hourly workers in the Detroit area as part of its plan to cut as many as 10,000 more jobs.
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General Motors Corp. reported the largest annual loss for an automotive company Tuesday and said it is making a new round of buyback offers to US hourly workers as it struggles to turn around its North American business amid a weak economy
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The world&#39;s largest automaker launched negotiations with European employees after it unveiled the cost-cutting plans in October, triggering days of walkouts at GM&#39;s German plants.
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Ford Motor Co. F.N will offer buyout   packages of up to $140,000 to all of the more than 75,000   workers at its U.S. plants, the United Auto Workers union said   on Thursday, a day before the automaker details a revised   turnaround plan in response to slumping sales.
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Outraged workers in Germany refuse to resume production as automaker seeks to save $623.8Ma year. FRANKFURT, Germany  - General Motors management started negotiations with union leaders Monday over
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The General Motors&#39; European unit accepted a deal Thursday to cut as many as 12,000 jobs to end four years of revenue losses, the BBC reported.
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The buyout offers would allow the auto giant to begin hiring new workers for significantly less pay.
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General Motors posted better-than-expected fourth quarter financial results, but indicated that its efforts to shave costs are not behind it as it offered buyouts to 74,000 employees - its entire U.S. hourly workforce.
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Labor talks in Detroit intensified yesterday, with the United Auto Workers selecting General Motors as lead company in contract negotiations that analysts and auto officials say could determine the survival of the Big Three automakers.
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General Motors Corp and the United Auto Workers union continued labor talks past the Friday deadline, while union members were told the current contract would be extended on an "hour-to-hour" basis.
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DETROIT -- Ford Motor Co. plans to offer buyout and early retirement packages to more than 75,000 of its employees, a United Auto Workers union official said Thursday.