GM to offer buyouts to all hourly employees

NEW YORK

News of the buyouts first broke on Monday. A union official told The Associated Press then that GM would offer $20,000 in cash and a $25,000 car voucher for workers who retire early and those who simply leave the company. The official spoke on condition of anonymity because workers were not yet notified of the packages.

Sapienza said employees will have until March 24 to decide whether to accept a buyout. Employees who accept the buyout will leave the company by April 1.

AP