US car union tightens belt to save industry
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The main car workers' union in the United States says it is willing to give up a number of key benefits to help the three biggest car makers get emergency funding from the Government.
United Auto Workers president Ron Gettlefinger said his union would suspend the jobs bank, an arrangement under which workers laid off by the big three Detroit carmakers continue to receive up to 90 per cent of their pay.
The UAW also agreed that payments by the motor companies into a union-run health care trust for retired employees would be deferred.
These concessions will allow Ford, General Motors and Chrysler to make some of the cost savings demanded by Congress, as a condition of granting them a $25 billion emergency loan.
- BBC
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