GM looks at beefing up buyout deals

[6 Shooter]

General Motors Corp., negotiating a buyout deal with the United Auto Workers to clear out thousands of veteran employees, may sweeten cash payouts to encourage the most senior to retire, sources familiar with the talks said.

The move is being discussed in the face of Ford Motor Co.'s decision last week to increase retirement incentives by as much as $20,000 from deals offered two years ago. It also comes as pressure intensifies on GM to get a deal so it can begin moving out veteran workers and replacing them with lower-paid new hires.

A landmark cost-cutting labor contract inked three months ago between GM and the UAW gave the automaker leeway to buy out workers and create a second tier of wages -- major wins for GM.

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[Tom Bryant]

I wish that GM would buy me out. I'm ready to take it easy. I suppose that I would have to be a GM employee though.

 

[vett boy]

They have got to do something and a lot of it.Ya can't loose money like they have and survive.I'm betting that Ford maybe the first to go ,and thats sad.