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 600 GM workers change minds on buyouts

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PostSubject: 600 GM workers change minds on buyouts   Sat Apr 04, 2009 3:00 pm

About 600 hourly General Motors Corp. workers who initially accepted early retirement and buyout offers changed their minds by Tuesday's deadline, the automaker said today.

GM initially reported 7,631 United Auto Workers members accepted offers aimed at trimming costs and clearing the way for the company to hire new workers at half the hourly wage, a key to helping the company slash costs and comply with a $13.4 billion federal loan package. But the workers had until Tuesday to reconsider.

The deadline to reconsider fell a day after President Obama's auto task force concluded that GM failed to outline a credible plan to profitability and suggested that a short-term bankruptcy may be the "best chance of success" for the automaker.
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