First it was Ford, now GM is going to offer buyouts to all of their union employees.
General Motors Corp (GM.N) said on Tuesday it would offer buyouts or early retirement to all of its U.S. hourly union workers, and expects the lackluster North American market to rebound in the second half of 2008.
The top U.S. automaker posted a quarterly loss reflecting a slump in its North American market, but analysts were encouraged that the sweeping deal with the United Auto Workers covering 74,000 workers would cut labor costs more aggressively than expected.
I know the risk of getting laid off is higher, but would you really want to take a buyout offer if you knew there wasn’t a chance you were going to get another job after this one, at least for a while anyway?
Oh sure, it’s a great deal for people who were planning to retire anyway, but the rest of them would be crazy to take the deal, wouldn’t they?
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