The UAW is touting a “big win” for its negotiation of worker buyouts.
“The United Auto Workers has negotiated for 1,412 General Motors Co. production workers to receive the buyout offer they wanted, union vice president Mike Booth said in a Thursday statement.
That figure is above the 748 employees originally eligible under the UAW-GM contract, which states that GM will offer three of the programs starting in January 2024 through the life of the agreement, which expires in April 2028. The program provides a $50,000 lump-sum pre-tax retirement incentive. The agreement, reached last fall, states the UAW and GM will ‘agree on timing, size, and scope of the offering.’
‘We announced this first phase, many members spoke up and said that we needed to expand the eligibility in this first phase,’ Booth wrote. ‘Today I am excited to announce that we have won SAPs for ALL 1,412 GM production workers who signed up for the SAP. Those workers will immediately be eligible to receive the $50,000 retirement bonus, with retirement dates effective June 1st, July 1st or August 1st. That’s a big win, and a big expansion from what GM was first willing to offer.’
Booth added the union still has not negotiated ‘immediate eligibility’ for all 545 skilled trades workers wanting to take the offer. Only 142 were immediately eligible in this first phase, Booth said.”
For the rest of the story, visit the Detroit News here.