Buyout Decisions Due For Chrysler UAW Workers

Posted: Friday, 13 November 2009 5:35AM

Buyout Decisions Due For Chrysler UAW Workers

 

Southfield (WWJ)  — Thousands of Chrysler autoworkers have big decisions to make by the end of the day. 

The Auburn Hills-based company is giving hourly UAW workers until the end of the day Friday to decide if they’ll take early retirement offers.  The automaker has 23,000 UAW workers. 

The three buyout packages are the first such offers since Chrysler Group LLC exited bankruptcy this summer. 

Younger workers who have been with the company at least one year can leave with a taxable payment of $75,000 and a $25,000 vehicle voucher, according to an earlier report in the Detroit Free Press.  Those workers would retain Chrysler health care coverage for six months with the option of buying 6 to 18 months of additional coverage.

Workers who have been with the company for at least ten years and are between 55 and 62 years old, could take an early buyout which would include a full pension, but no lump sum payment. 

Another offer for workers whose age and years of service equal 85 years or more, or age 60 with 10 plus years on the job could receive a vehicle voucher and a payout of 50-thousand dollars.  They’d also have pension benefits.  

The offers target workers at plants that Chrysler is phasing out, including Sterling Heights and Detroit Axle. 
 

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