GM Offers Employees Buyout
Company Reports $38.7 Billion Loss
Updated: 7:54 am CST February 13, 2008
JANESVILLE, Wis. -- General Motors is making a new round of buyout offers to 74,000 hourly workers, including employees at the company's Janesville plant.On Tuesday, GM reported a $38.7 billion loss for 2007, the largest annual loss ever for a U.S. automaker.Hourly workers company-wide can volunteer for a buyout. Retirement-eligible workers will get between $45,000 and $62,000, depending on their skill level. Younger workers can get up to $140,000, WISC-TV reported.Workers would leave by July 1.
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