The terms for walking out of GM are published here.
Taxpayers are paying the following:
- 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.
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Taxpayers are paying the following:
- 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.
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