General Motors plans to cut its pension obligation in the US by US$26bn by offering lump-sum buyouts to 42,000 salaried retirees and surviving beneficiaries in the US. It will also offer other retirees a continued monthly pension payment administered and paid by The Prudential Insurance Company of America.
GM expects to …
This article is available only to members of Automotive World. If you are already a member, please login to your account.
Membership starts at just $2.18 per day for access to all Articles, eMagazines, and Webinars.