Court Says GM Can Cut Benefits; Retirees Likely to Appeal Health Care DecisionFrank SwobodaAlbert Crenshaw
GM) expects its rapidly growing portfolio of electric vehicles will be solidly profitable in 2025 in North America as the company scales EV capacity in the region to more than 1 million units annually, ramps up its software revenue opportunities, generates significant greenhouse gas benefi...
Reason1:COST--Labor Labor:(wage)2009America:GM(130,000employees)$70/hForeigncarmakerequivalent$48/hAsia:$25~30/h :samesalaryto8000workerswhohavebeenfired http://www.emkt.com.cn/article/420/42073.html Reason1:COST--Labor Labor:(medicalinsurance)330,000retirees+relatives+130,000workers=1,000,...
The governments of Canada and Ontario will provide $9.5 billion to GM and will receive $1.7 billion in debt and preferred stock and 12 percent equity in the company. The independent trust established for GM retiree health care benefits will receive $2.5 billion paid in three installments ending ...
GM retirees may fight reductions in benefits ; Michigan lawsuit challenges UAWJeff Green
to cut 1 billion dollars for benefits of its retired workers in the U.S. Under the plan, 475,000 retirees and their dependents will be required to take part as much as 752 dollars annually for their health insurance premiums. Meanwhile, the company and its union, the United Automobile ...
industry's deep structural problems, including high labor costs and soaring pension and health-care expenses for hundreds of thousands of retirees; Reference to a shift in the labor movement, with unions in a host of industries forced to make concessions in order to salvage jobs and benefits.EBS...
Amy JoyceBen White
In Benefits Ruling, Some See a Promise Broken; Experts Say Appeals Court Decision in GM Battle With Retirees Opens Door for Employers to Cut CoverageSteven Ginsberg
GM trims benefits to reduce costs; Salaried staff, retirees next year limited to high-deductible plans.(General Motors Co)Geisel, Jerry