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G.M. and Chrysler eliminate jobs banks for loans
General Motors and Chrysler are closing their jobs banks, a program where laid-off factory workers are able to collect nearly their full salaries. To win support for bridge loans, leaders of the United Automobile Workers union is allowing the factories to eliminate their job banks as one of several terminated programs. About 16,000 of workers currently employed by G.M. will be laid off, and will be collecting 72 percent of their full-time pay through state unemployment benefits and additional benefits provided by G.M.
Original story
Labels: Chrysler, G.M., General Motors, jobs banks, United Automobile Workers union
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