GM Pays Oshawa Workers Even After Plant Closes
After accusations of " betrayal," blockades by the Canadian Autoworkers union, threats of lawsuits against the union and sops tossed to the union, GM is moving ahead with plans to close their truck plant in Oshawa, Ontario. However, it looks like it'll cost them a bit more than they'd anticipated. The Globe and Mail reports GM and the CAW have struck a deal whereby GM will add another model to the mix produced at the auto assembly plant there. Oh, and pay some workers for four years after the plant closes. The complete details of the deal will be announced to workers later today, but it includes paychecks for laid-off workers with 26 years seniority for four more years at 65 percent of their current wages. That makes them eligible for "a special retirement incentive applicable to people with 30 years of experience." Workers with 27 to 30 years would also be paid until they reach the 30-year mark. In return, GM gets to keep building cars in the most expensive location in North America. Such a deal!
Here's the facts: #1 Truck plant starts winding down Sept 08 to closing July 09. #2 All hourly employees are eligible for something It starts at 37,500$ + 35000 car, to 120,000 and 35000 car for 30yr skilled trades.Everything is taxable. #3 26 yr employees get 65% of gross pay,then its taxed.When you get to 30 years,its 50,000$ plus the car,and your on a 30yr retirement pension. Yes it sounds like a good package.I will be shocke if we get more that a thousand takers 700 maybe These 2600 high paying jobs are gone,never to return.
This is in effect simply an extension of GM's previous buyout offer of those workers at that plant.
To some degree Sherman lin your correct.This time though its open to anybody with no preset limits.
This sums up the reason that I will never buy a GM product at any price. A company of losers from top to bottom.