Chrysler Workers Offered Buyouts
Deadline To Accept Offer Was Friday
POSTED: Thursday, November 12, 2009
UPDATED: 7:28 pm EST November 13,
2009
AUBURN HILLS, Mich. -- Thousands of Chrysler LLC workers had until the close of business Friday to accept a buyout.
This was the first round of buyouts Chrysler has offered since exiting bankruptcy.
The buyout offer has been extended to all of Chrysler's 23,000 union workers.
Detroit Axle line worker Hollis Johnson said a buyout is the last thing on his mind.
“It’s too tough out here right now in the economy to just walk away from something into nothing,” Johnson said. “If God bless me thus far, and this company can survive, I would like to make it to retirement.”
The buyouts Chrysler is offering depend on the employee's length of service.
Workers between 55 and 62 years of age can walk away with their full pension but no cash or car voucher.
Another plan gives $50,000 cash, a $25,000 car voucher and full pension to employees whose years of service and age combined equal 85 or more.
Workers at two plants, the Sterling Heights Assembly and Detroit Axle, which opened nearly 100 years ago, were offered sweetened deals.
Workers there were offered $115,000 cash, a $25, 000 car voucher and one of medical coverage.
The deal improved the longer the employee has been with the automaker.
"I was laid off for 17 months from February of '08 until July of this year," said Chrysler worker Ken Vanwasshonva. "When it was really bad was when I was laid off. I was thinking about taking it then, but if I stuck through that, I'll stick through while I'm working."
Die maker John Kiefer said he wouldn’t be taking the buyout, either.
“I have a family and two kids to feed. With the economy, I’m staying right here,” he said.
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