GM's Vauxhall Offers Workers Innovative Furlough Plan
December 15, 2008
General Motors' Vauxhall division in the U.K. is offering a temporary furlough plan to its 2,200 workers at its Ellesmere Port plant that builds the Astra model sold under the Vauxhall and Opel brands in Europe and Saturn in North America.
All but key employees are being offered a furlough of between two and nine months between January 1 and September 1, 2009. They will receive 30 percent of their normal pay but retain holiday pay and pension benefits.
No word on how many employees signed up for the plan, though local media, citing unnamed Vauxhall sources, have said GM expects no more than 30 percent of the employees to take the offer.
The plan is a pilot experiment intended to reduce structural costs and conserve GM's cash.
Posted by Michelle Krebs at 8:10 AM under Business , GM | Comments (0) | digg this | Seed Newsvine
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