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Updated: 9:16 AM May 9, 2008
GM to pay up to $200M to help end American Axle strike
General Motors Corp. has agreed to kick in up to 200 million dollars to help end a 10-week strike at American Axle and Manufacturing Holdings Inc. Posted: 9:16 AM May 9, 2008 |
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General Motors Corp. has agreed to kick in up to 200 million dollars to help end a 10-week strike at American Axle and Manufacturing Holdings Inc.
The Detroit automaker says today in a government filing that the money would go for temporary payments to buffer reduced wages for the auto parts supplier's workers, and employee buyout and early retirement packages.
About 3,600 United Auto Workers at five American Axle factories have been on strike since February 26th in a wages and benefits dispute.
About 30 GM factories have been either fully or partially closed due to the strike.
Nearly 400 workers at AM General were temporarily laid off because of the strike. The entire H2 plant was shutdown as a result.
An American Axle spokeswoman says talks with the union are continuing.
The Associated Press has left a phone message seeking comment from the UAW.
Information from The Associated Press was used in this report
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