Brought to you by WBIW News and Network Indiana
Last updated on Tuesday, February 3, 2009
(DETROIT, MI) - General Motors and Chrysler Corporation are offering more buyouts to their hourly crews, and GM is talking about selling off their heavy-truck business.
The Detroit News reports GM plans on cutting about a third of their worldwide hourly workforce by the year 2012, and this buyout plan is part of that strategy. The move is an effort to get in line with the Detroit bailout requirements Washington has imposed on GM and Chrysler.
Ford has escaped these since it did not accept bailout funding, and is not planning any buyouts.
The GM buyout includes a $20,000 cash payment and a $25,000 voucher for a new GM vehicle.
The Detroit News also reports GM is in talks with Japanese truck-maker Isuzu to sell their medium-duty truck business to them.
That part of GM manufactures the Chevy Kodiak and GMC TopKick.
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