GM Offers To Pay $200 Million To Help End American Axle Strike - 05/09/08
9th May 2008
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Loading ...By Doug Cunningham
GM said this week in a government filing that it's ready to come up with up to $200 million to help end a 10-week strike at American Axle. The UAW is on strike there after the company demanded wages be cut in half and pensions and health care benefits ended for future retirees.
GM has recently said it would not get involvd in the strike. But American Axle supplies GM with key auto parts and the strike has shut off the flow of those parts to GM factories.
The $200 million GM is willing to spend would go to cushion the impact of reduced wages and fund early retirement buyouts for American Axle workers.