LAS VEGAS -- More than 33,000 factory workers at General Motors and former subsidiary Delphi Corp. have accepted buyout offers, exceeding early expectations, the UAW said last week.
At a news conference during the UAW Constitutional Convention here, UAW President Ron Gettelfinger said 25,000 GM and 8,500 Delphi workers had taken the early-retirement incentives. The buyouts are a key part of Delphi's Chapter 11 reorganization.
"I think it's going pretty well," Gettelfinger told Reuters. "I think it's a little better than we initially expected." GM has offered buyouts ranging from $70,000 to $140,000 to more than 125,000 union workers in an effort to cut costs. The offer is on the table for consideration until Friday, June 23.