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...
Cuts in Benefits for GM Retirees approved.The article reports that a federal judge Robert H. Cleland has approved the proposal of General Motors Corp. 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 ...
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Although the agreements differ at the margins, workers at each of the automakers will receive the same top-line benefits including the right to strike over plant closures and additional benefits to retirees. Details on the terms for employees at Stellantis (owner of Chrysler, Dodge, Jeep and Ram...
The union would then invest the money and take over health care responsibilities for about 340,000 GM hourly retirees and spouses. "I'm pleased to say that we have a VEBA in place that will secure the benefits of our retirees," UAW President Ron Gettelfinger said at an early morning news...
In exchange for a 17.5% equity stake earmarked for the UAW's health-care trust, the union will grant concessions on health-care benefits for retirees. The agreement also calls for GM's secured creditors including Citigroup Inc. and J.P. Morgan Chase & Co. to be repaid in full....
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The article describes how General Motors (GM) hopes to improve its sagging business performance by negotiating a new agreement with the United Auto Workers (UAW) that will relieve it of responsibility to fund health care benefits for GM retirees. GM's plan would require it to pay into a heal...
The union would then invest the money and take over health care responsibilities for about 340,000 GM hourly retirees and spouses. "I'm pleased to say that we have a VEBA in place that will secure the benefits of our retirees," UAW President Ron Gettelfinger said at an early morning news...
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