Chrysler Expands Buyout, Early Retirement Packages

By: Associated Press Email
By: Associated Press Email

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Monday, May 18, 2009

Chrysler LLC has expanded early retirement and buyout offers at six of the eight factories it plans to close as part of its bankruptcy restructuring.

The offers expire May 26 and in some cases are better than an offer now on the table for all U.S. factory workers.

The offers include a $50,000 payment for early retirement and $75,000 to $115,000 for buyouts depending on seniority. Workers also get a $25,000 voucher for a vehicle.

The new offers apply to the Conner Avenue plant in Detroit; the St. Louis North and South assembly plants; the Kenosha, Wis., engine factory; the Twinsburg, Ohio, parts stamping plant and the Sterling Heights, Mich., assembly plant.

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