Chrysler Offers Buyouts

By: Associated Press
By: Associated Press

Chrysler will offer blue-collar workers at plants targeted for production cuts up to 100-thousand dollars to leave as part of its recovery plan.

A company document outlines an early retirement program for those near retirement age and a buyout program for those with at least one year of seniority.

Workers would receive a pre-tax lump-sum payment of 100-thousand dollars plus six months of medical and vision coverage in exchange for their departure.

The early retirement package includes a 70-thousand-dollar payment, plus health care that follows provisions of the United Auto Workers' national agreement.

The document says the automaker and the UAW reached agreement on the offers. They are not as lucrative as those leaving Ford and General Motors.

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