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Last updated on Monday, June 26, 2006
(UNDATED) - Indiana General Motors and Delphi employees are part of a group of about 125,000 facing a nail-biting final decision on whether to accept the company’s buyout plan.
The automaker and Delphi Corporation will give most employees who accept their proposal between $35,000 and $140,000 in severance pay. In most cases, the workers will lose health and life insurance benefits.
Automotive Industry Analyst Bill Parsons says Hoosier employees who take the deal should use the payout for basic living expenses as well as retirement and education-related investments.
Parsons expects G.M. and other U.S. automakers to rebound from declining sales because so many Americans rely on cars.
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