06/05/2009
The cost of retirement benefits are one of the flies in the ointment of Chrysler’s plan to close eight plants—including its Twinsburg, Ohio, stamping facility. To help cut long-term expenses, the bankrupt company plans to offer lump-sum buyout payments to some members of the United Auto Workers.
06/05/2009
As Chrysler sought a buyer, Ohio Attorney General Richard Cordray wondered how much it would cost the state in workers’ compensation payouts. Chrysler self-insures its workers’ compensation, but Fiat may not want to assume that obligation. What happens to workers receiving benefits then?