The United Auto Workers union will allow Chrysler to end its Jobs Bank program on Monday. The Jobs Bank, the source of much criticism from Congress during the loan hearings, allowed some laid-off workers to remain on the payroll at 100 percent of their base pay. In return, the workers were supposed to be available [...]
United Auto Workers President Ron Gettelfinger announced the union will agree to suspend the Jobs Bank program and will allow Chrysler, Ford and General Motors to delay their payments to the Voluntary Employee Beneficiary Association (VEBA) that is due to assumer responsibility for retiree health care in 2010. The announcement came following an emergency meeting between Gettelfinger and the presidents and chairmen [...]
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