GM to pay up to $200M to help end American Axle strike
POSTED: May 8, 2008
DETROIT (AP) — General Motors Corp. says it will pay up to $200 million to help bring an end to a crippling labor dispute at parts supplier American Axle and Manufacturing Holdings Inc.
The automaker said Thursday in a government filing that the money would go to subsidize lower wages for striking workers, and for employee buyout and early retirement packages.
About 3,600 workers at five American Axle factories have been on strike for more than nine weeks because the company wants to cut their wages and benefits.
The strike has crippled GM’s production of pickup trucks and sport utility vehicles.
American Axle spokeswoman Renee Rogers says negotiations with workers are continuing.
