$60,000 bonus offer may lure UAW-GM workers into retirement
Thousands of UAW-GM workers could soon be asking themselves a simple question: Is it time for me to retire?
If union members ratify a contract at General Motors next week, generous incentives — including a $60,000 bonus for some — could soon be in place to encourage many hourly workers to retire by the end of February.
The strike at GM — which continues through ratification votes next week — has had 46,000 UAW workers off their jobs at 55 GM facilities in 10 states since Sept. 16.
According to the UAW contract summary for GM hourly workers, terms include:
• A $60,000 retirement bonus for up to 2,000 eligible production and 60 eligible skilled employees who retire between Dec. 31 and Feb. 28, 2020.
• Retirement-eligible employees at three GM plants that are closing — including Warren Transmission in Macomb County — will be offered $75,000 for production workers and $85,000 for skilled workers if they exercise their right to retire.
Read more: https://www.freep.com/story/money/personal-finance/susan-tompor/2019/10/18/uaw-gm-retirement-bonus-contract/4021057002/
(Detroit Free Press)
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