Wednesday, April 1, 2009 Honda offers buyouts, cuts pay, work days Meghan Barr and Dan Strumpf / Associated Press COLUMBUS, Ohio — Honda Motor Co. is offering voluntary buyouts, cutting workers’ pay and imposing 13 non-production days at its North American plants to reduce its output this summer by 62,000 vehicles. Honda spokesman Ron Lietzke [...]
Wednesday, April 1, 2009 UAW loses 33,000 members in 2008 Organizing drives fail to keep up to workers leaving auto industry David Shepardson / Detroit News Washington Bureau Washington — The United Auto Workers lost more than 33,000 members in 2008, a new post-World War II low as Detroit’s Big Three continued to dramatically downsize. [...]
Automotive News | April 1, 2009 – 12:01 am EST Honda to cut North American production, worker pay queryvar=”honda,to,cut,north,american,production,worker,pay”; WASHINGTON (Reuters) — Honda Motor Co. said on Tuesday it would cut production in North America by 62,000 vehicles by shutting factories for 13 days starting in May and reduce pay for salaried and [...]
Henderson says GM will meet Obama mandate, even if it means bankruptcy queryvar=”henderson,says,gm,will,meet,obama,mandate,even,if,it,means,bankruptcy”; Jamie LaReau Automotive News | March 31, 2009 – 3:34 pm EST DETROIT — General Motors CEO Fritz Henderson said today that he is ready to meet the Obama administration’s mandate to restructure the company — even if it means [...]
GM bondholders brace for ‘pennies on the dollar’ offer in revised plan queryvar=”gm,bondholders,brace,for,‘pennies,on,the,dollar’,offer,in,revised,plan”; Automotive News | April 1, 2009 – 12:02 am EST NEW YORK (Reuters) — General Motors bondholders on Tuesday braced for a reduced offer of "pennies on the dollar" for about $28 billion in outstanding GM debt and new terms [...]
