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The Detroit-based automaker said roughly 19,000 salaried workers hired before 2001 will move from a traditional pension with guaranteed payments to a 401(k)-type plan with contributions based on ...
In a memo obtained by the Detroit Free Press, GM's salaried workforce to get base wage increases, added contributions to 401(k) plans and other perks. Raises, increased benefits coming to nonunion ...
In an 8-K filing submitted by GM on Thursday, the automaker says it expects to take a $1.5 billion pre-tax charge, and up to $300 million in pre-tax, non-cash pension curtailment charges. GM said ...
One Prudential Plaza (formerly known as the Prudential Building) is a 41-story structure in Chicago completed in 1955 as the headquarters for Prudential's Mid-America company. It was the first skyscraper built in Chicago since the Great Depression of the 1930s and the Second World War.
GM was the last of the Detroit Three to reach a tentative contract with the UAW on Oct. 30 and GM’s unionized workers ratified it Nov. 16 by a slim 55%. About 36,000 members at GM facilities ...
The 2007 General Motors Strike was a labor union strike that lasted three days from September 23 to September 25, 2007, organized by the United Auto Workers (UAW) union. The UAW were engaged in talks with General Motors (GM) to negotiate a new labor contract but were unable to come to an agreement before the deadline. Consequently, 73,000 ...
Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.
General Motors is increasing the pressure on its 43,500 salaried workers across the United States to return to the office. In a company-wide email to employees Tuesday morning that was obtained by ...