InfoAnda - GM, Canadian union agree to wage, pension freeze

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Fifty years since Greatest Game Ever Played | Entertainment | | 22 December 2008
Groupon IPO may value company at $15-$20 billion: source | | 15 April 2011
New dawn for Egypt as Mubarak toppled | 12 February 2011

Rogue Afghan policeman kills two NATO troops | | 13 May 2011

">Forum Views () ">Forum Replies ()

Read more with google mobile : GM, Canadian union agree to wage, pension freeze

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: GM, Canadian union agree to wage, pension freeze AFP - Monday, March 9 OTTAWA (AFP) - - The Canadian Auto Workers announced a tentative deal with General Motors on Sunday to freeze wages and pensions, and cut paid vacations, as part of GM's North America restructuring. ADVERTISEMENT The agreement would "generate substantial cost savings for the company while protecting current base wage rates and current pensions," CAW President Ken Lewenza said in a statement. These savings are estimated at tens of millions of dollars, based on labor cost reductions of "several dollars per hour" for each of GM's roughly 10,000 unionized staff in Ontario province. GM's Canadian operations would retain an "investment advantage" over US plants, Lewenza added. GM issued a statement calling the tentative labor agreement a way to "bring the company's labor costs to much more competitive levels and help ensure the company's long-term viability." The beleaguered auto giant said last month it would need an additional 22.6 billion dollars US in government aid if it is to survive a collapse of global auto sales amid a deepening recession. The company is also asking for up to 7.5 billion Canadian dollars (6.0 billion US) in aid from Canada's government. The union entered talks on Friday with GM on a worker "sacrifice agreement" to try to find labor savings in its Canadian operations, at Ottawa's insistence. The Canadian government had asked the union to share the burden of GM's cost restructuring as a condition of any taxpayer-funded bailout. The tentative pact must still be ratified mid-week by GM workers. "Our objective coming into these negotiations was to minimize the pain felt by our members and their families, while ensuring that General Motors was well positioned to receive government assistance to remain viable," Lewenza said. "At the same time, we understand that workers didn't cause this crisis, which was caused by the global financial meltdown and ensuing credit freeze." Under the terms, GM's current labor contract would be extended by one year to September 2012. Base wages and pensions would remain frozen until then. As well, employees would receive one fewer week -- 40 fewer hours -- each year of paid vacation, in addition to a 40-hour reduction implemented in January. A 1,700-dollar (1,300 US) "special bonus" would be diverted to help pay for retirees' health care. Expenses for training, wellness programs, and child care would be cut by one-third. Also, GM and its unionized staff would split premiums for benefits such as health care, collecting 30 dollars (23 US) per month from each worker, and 15 dollars (12 US) from each retired worker over 65. Email Story IM Story Printable View Blog This Recommend this article Average (3 votes) Sign in to recommend this article » Most Recommended Stories » Most Popular – Top Stories Viewed Russian media teases Clinton over 'reset' button Business groups slam German nationalisation bill Bleak jobs report dampens hopes for US recovery 651,000 jobs lost as US hits 25-year jobless high Zimbabwe PM hurt, wife killed in car crash: party View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Monday, 9 March 2009
Iran test-fires new missile: media | International |
Tsvangirai's wife to be buried on Wednesday | International |
Developing world may need $700 billion: World Bank | International |
Madagascar soldiers mutiny, opposition head hides | International |
Ships idle in Philippine port as global trade slows | International |
Watchmen hits big time at box office | Entertainment |
Sudan frees Islamist opposition leader
U.S. to cut Iraq troop strength by 12,000
Sudan frees Islamist opposition leader | International |
Iran reportedly test-fires new missile
Tension high on Korean peninsula amid military drills | International |
US calls on G20 to help bolster int'l demand: report
US says 12,000 troops to leave Iraq by September
EU finance ministers to back doubling of IMF funds at G20 | International |
China strengthens Tibet frontier to deter unrest | International |
GM, Canadian union agree to wage, pension freeze
Plane crashes into lake, 7 feared dead: Uganda | International |
Former Israeli president to be charged with rape
Obama adds senior staff to Treasury's thin ranks
Most voters want Japan opposition head to quit: poll | International |
Israel believes Iran can build nuclear weapons
Zimbabwe's Tsvangirai treated in Botswana after road crash
India's main opposition bloc loses key ally | International |
White House announces three Treasury picks
Kangaroo intruder terrorizes Aussie sleeping family | International |
GM reaches deal with Canadian Auto Workers
Gunman stuns US churchgoers, kills pastor
China Mobile in talks with Taiwan firms on roaming services | Technology |
China Mobile in talks with Taiwan firms on roaming services
Sarkozy denies Mexico is a 'failed state'
Real IRA 'claims killing of British soldiers' in N Ireland
Real IRA claims responsibility for N.Ireland killings: journalist
Watchmen falls short of expected box office take | Entertainment |
Ashlee Simpson-Wentz moves into Melrose Place | Entertainment |
Iraq war play scoops four Olivier theatre awards | Entertainment |
Rita Wilson joining Streep and Baldwin in movie | Entertainment |
Kangaroo hops into bed with startled Aussie family
Morgan, Lawrence join Chris Rock for Funeral | Entertainment |
NKorea threatens 'war' if satellite is shot down
Chinese state media says blasts damage police cars
Deadly violence taints China's village elections
Rita Wilson joining Streep and Baldwin in movie
China says Navy expansion "no threat to others"
Japan's Nikkei index closes at 26-year low
Protest in Tibetan area of China, police targeted: state media
Seoul shares rise led by LG Display, brokerages
Malaysian economy 'buckling' in global slump: Anwar
Asia capital losses at 9.6 trillion dollars in 2008: ADB
Pakistani troops kill 15 militants in northwest
ADB: $50 trillion wiped off world financial assets
Four children killed in Philippine fire
Japan logs record current account deficit
India looks to host the 'B and B' Games in 2010
Indian city to build toilets for transgender people: report
Hundreds halted at border after NKorea shuts phone lines
Ashlee Simpson-Wentz moves into "Melrose Place"
Korea Hot Stocks-Samsung C&T gains; Pharma shares rally
Film-maker to plan China 60th anniversary fireworks: state media
S.Korea says banks' capital ratios in better condition
Jackie Chan starts shooting historical epic
Taiwan dollar flat ahead of exports data
Morgan, Lawrence join Chris Rock for "Funeral"
Japan posts record current account deficit
Rita Wilson joining Streep and Baldwin in movie
"Watchmen" falls short of expected box office take
Obama leads birthday salute to Ted Kennedy
Iraq war play scoops four Olivier theatre awards
Dries Van Noten showcases classic winter coats
Indonesian porn law turns off folk dancers
Brown says killings will not stop N.Irish progress | International |
First stone laid at razed refugee camp in Lebanon
Violence flares on Pakistani border with Afghanistan | International |
Captured Israeli's parents set up protest camp
Peace with Israel possible, says Syria's Assad | International |
Rights group demands freeze on West Bank quarries
Tsvangirai rules out foul play in car crash | International |
World stocks spiral lower on fresh financial woes
Syria's Assad says peace with Israel possible
Obama to reverse Bush limits on stem cell research
Iraqi army called in to patch up a ruined nation | International |
Thai judge to end Merchant of Death hearing soon | International |
Nokia takes on Apple in online software arms race | Technology |
Palm moves to bolster capital ahead of Pre launch | Technology |
'Swiss Gigolo' jailed for blackmailing BMW heiress
Kirk Douglas in courageous return to spotlight | Entertainment |
Winehouse unable to make U.S. gig after assault case | Entertainment |
Western envoys see cracks in Nepal's peace process
Iraq war play scoops four Olivier theater awards | Entertainment |
China's Hu urges stability in Tibet
Watchmen rules overseas boxoffice | Entertainment |
China's Hu demands wall of stability in Tibet
Blasts rock Tibetan area as China ups security
Taiwan's detained ex-leader eyes new independence party
Hollywood image behind Berlusconi's staying power: author
Pakistan targets 100 bln rupees in T-bill auction
NKorea puts military on full combat alert
Ansaldo STS gets 220 mln euro order for Taipei metro
NKorean leader Kim re-elected to parliament
Satyam starts bidding process for 51% stake sale
Sri Lanka army: 80 rebels dead in northern battles
Taiwan exports fall for sixth straight month
Bomb kills 1 Canadian soldier in Afghanistan
France's BNP Paribas to leave Tokyo bourse
Documentary filmmaker Ken Burns losing GM backing
HSBC plunges over 24 percent to near 14-year low
Russia's Eurovision song stirs criticism
New Taiwan port seen boosting tech, regional transit
'Black Watch' wins big at theater's Olivier Awards
Winehouse unable to make U.S. gig after assault case
SKorean bank seeks 300 mln dlrs overseas loans
Cast member of popular SKorean TV show found dead
S.Korea building permits skid on economic downturn
Hello I'm Kosmos: Patriotic names in Russian comeback
Hollywood image behind Berlusconi's staying power: author
Kirk Douglas in courageous return to spotlight
Art flowers again in Iraq as violence ebbs
"Watchmen" rules overseas boxoffice
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01