Wow GM made out like a bandit with the strike negotiations…

I have no idea how many members of the UAW actually work for GM, but, for the sake of argument let’s pretend half of them do (which would be approximately 90,000).

Now, based on the following clip from the Associated Press, GM will be able to buy out 24,000 (26.66%) of their “soon to retire” workforce so they can bring in many new people at the new “lower pay package”.

General Motors Corp (GM.N) would be able to buy out as many as 24,000 UAW workers and replace them with lower-paid hires under a tentative contract agreement, the Wall Street Journal reported on its Web site on Friday.

Such a potential buyout stems from a move by the union to expand the definition of non-production job classifications, the article said, citing management and union officials briefed on the pact.

GM will be able to hire at a much lower pay package janitors, landscape workers and material handlers, the report said.

How awesome is that deal? I can feel the prices of GM vehicles dropping already.

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