General Motors Shares Down Following Report of Buyout Offeri

Published on Tue, 12/14/2010 - 14:47
By Anonymous in auto, buyout, car, early, employee, factory, fnn, General, gm, incentive, maker, motors, plants, retirement, worker
general, motors, gm, worker, employee, buyout, early, retirement, incentive, factory, plants, auto, car, maker, fnn

Shares of General Motors (GM) are down after a Wall Street Journal report that the auto maker is offering buyouts and early-retirement incentives in hopes of persuading up to 3,000 skilled-trades workers to leave U.S. plants.

The auto maker is offering a $60,000 payment to workers at 14 factories to either retire or cut ties with the company by March. They have until Dec. 23 to decide whether to take the offers. Many of the incentives are aimed at workers at GM plants scheduled for closure.

General Motors shares are down 0.95%, or $0.32, to $33.48.

By Anonymous

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