Thursday, May 29, 2008

What's Good for GM reports that General Motors is shedding another 19,000 US workers. According to Bloomberg, "the departures will allow GM to install new employees who will be paid about $14 an hour, about half the wage of the current unionized workforce, while reducing health-care and retirement benefits." In February, GM offered retirement and buyouts to all of its 74,000 UAW employees.

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