Posted on 05/12/2009 3:10:05 PM PDT by Oldeconomybuyer
DETROIT (Reuters) - Chrysler LLC will offer new buyouts to factory workers at seven of its eight U.S. plants slated for closure under its bankruptcy plans, the United Auto Workers union said on Tuesday.
The U.S. Treasury has told Chrysler the buyouts must be completed by May 26 for the automaker to stay on schedule for coming out of bankruptcy, UAW Vice President General Holiefield said in a memo to local union presidents.
"In the next few days, each member at these facilities will be sent a letter from the corporation listing the special program options," Holiefield said in the memo sent on May 11, a copy of which was obtained by Reuters.
The automaker, which filed for bankruptcy on April 30 after failing to restructure its debt, has detailed plans to close eight plants as part of a sweeping restructuring needed to emerge from bankruptcy by the end of June.
The automaker has been offering buyouts and early retirement incentives to all of its 26,000 U.S. hourly workers under a program launched in February. The program offers retirement-eligible workers $50,000 in cash and a voucher of $25,000 for a new Chrysler vehicle if they leave.
(Excerpt) Read more at reuters.com ...
Extortion protecting extortion.
They should pay them off in stock options.
Lay them off and pay their severance in company stock.
Interestingly enough *that* pic spoke just one word to me: zerO.
Bet those smug union thugs never --in their life-- ever thought the "photo op" c/would come back to bite 'em on the posterior.
But I dare say it sure has and will.
What if they refuse?
If they refuse, it won’t be because they’re not workers but because they’re the bums that they are.
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