Filed under: Hirings/Firings GM

Way back in March of this year the UAW GM and Delphi sat down to figure out a buyout/retirement plan for the approximately 14600 employees eligible to leave the workforce. Delphi employees were offered two separate packages: certain retirement eligible employees will be able to walk with a lump sum payment of $35000 while others would be offered a buyout of between $40000 and $140000. A total of 12400 employees eligible for retirement took the $35k and 1400 opted to walk early and get a lump sum.

The General agreed to foot the bill for the lump sum payments along with some post-retirement employee benefits.

How much are we talking? We'd expect the figures sometime before January 1st 2007 when all the retirees/buyoutees take their leave.

[Source: The Auto Channel]

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