[classicman]

GM incentive package to shed workers

It seemingly has become an annual (or semiannual) event, but area autoworkers are being given another chance to leave the troubled industry.

The latest incentive package from General Motors Corp. came as part of the concessions the United Auto Workers union accepted last week in the company’s ongoing restructuring.

GM is offering $20,000 cash and a $25,000 car voucher to production workers who decide to retire with their benefits.

For skilled-trades workers, the cash portion of the retirement package is $45,000 with the same car voucher.

For those not eligible to retire, GM also is offering more cash to walk away and sever all ties with the company, along with the $25,000 car voucher.

Employees with less than 10 years could get $45,000. Those with at least 10 years but less than 20 are being offered $80,000. For those with 20 years or more, it’s $115,000.

Those with 28 or 29 years at GM are being offered a bridge to retirement, with the company providing a monthly gross wage of $2,850 or $2,900 until qualifying for retirement.

Seems like a sweet deal if you can get it.