GM, UAW negotiating another round of buyouts, early retirements

By: Associated Press
By: Associated Press

General Motors says it's close to reaching agreement with the United Auto Workers on another round of buyout and early retirement offers.

The move is designed to cut the number of workers in jobs banks and to clear openings for workers hired at lower-tier wages.

GM North America President Troy Clarke tells reporters in Detroit that an announcement could come within a week.

Clarke says he can't reveal specifics of the plan because negotiations are continuing.

The company already has announced plans to offer buyouts and early retirement packages to 5,200 UAW hourly workers at various service and parts facilities.

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