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Chrysler Extends Union Buyout Program
Chrysler Group LLC is extending its offer to union workers to take an early retirement package.
Earlier this year Chrysler offered United Auto Workers employees as much as $75,000 in cash and a $25,000 voucher to buy a new car in order to quit the company and void their employment contract. Workers eligible for retirement could get $50,000 and the voucher, Bloomberg News reported.
The company did not say how many employees took the first buyout offer.
Workers have until Nov. 13 to accept these buyouts and those at plants that are slated to close have been offered more money and have different deadlines, a company statement said, Bloomberg said.
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