UAW Says It Has Tentative Contract With GM
The contract terms include modifications to a UAW-administered retiree health trust known as a voluntary employee beneficiary association, the union said in a statement
Comments 0 | Recommend 0
May 21, 2009
UAW Says It Has Tentative Contract With GM
The United Auto Workers said that it has reached a tentative new contract
with General Motors and the U.S. Treasury aimed at helping the automaker
restructure.
The terms include modifications to a UAW-administered retiree health trust
known as a voluntary employee beneficiary association, the union said in a
statement Thursday, May 21.
Terms were not released, pending a ratification vote by rank-and-file union
members at GM.
The UAW agreed to the concessions as GM faces a June 1 deadline to prove its
viability to the federal government or face Chapter 11 bankruptcy protection.
Along with the labor concessions, GM and the U.S. Treasury also are asking GM
bondholders to forgive about 90 percent of that unsecured debt.
Guidelines: Comments that include profanity or personal attacks or other inappropriate comments or material will be removed
from the site. We will take steps to block users who violate any of our posting standards, terms of use or privacy policies
or any other policies governing this site. You are fully responsible for the content you post.
If you enjoy the content on the Workforce Management Web site and want to see more, try 3 issues of our print edition risk-free. If you wish to continue, you will receive one full year for just $79. That's over 59% off the cover price. If you decide Workforce Management is not for you, just write "Cancel" on the invoice, return it and owe nothing. The 3 issues are yours to keep with no further obligation to us. Sign up below.
Offer valid for new Workforce Management Subscribers only.
Canada subscribers - $129. All other Foreign - $199.
= Member Only
