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Old May 8th, 2009, 04:19 PM   #1
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Default GM restructuring sends more jobs overseas

UAW raises objections to GM's latest plan

The UAW objected Tuesday to General Motors' newest restructuring plan, saying in letters to Congress and the White House that the plan depends on increased foreign manufacturing over U.S.-made vehicles.

The sharp statement comes as the UAW and GM are to return to the bargaining table at the end of this week -- likely Thursday -- for further cost-cutting negotiations.
In its letter, the union urged lawmakers to call on President Barack Obama to tie any further government assistance to GM on maintaining "the maximum number of jobs in the U.S."
"The UAW strongly objects to GM's restructuring plan because it essentially means that GM will be shifting more of its manufacturing footprint from the U.S. to Mexico, Korea, Japan and China and importing more of the vehicles it sells in the U.S. market from these countries," UAW legislative director Alan Reuther wrote.
GM CEO Fritz Henderson said the issue could come up in this week's negotiations. "Everything should be on the table," he said.
GM needs to get the union to agree to accept half of the money it is owed for retiree health care in company stock.
Reuther noted that GM's revised plan calls for the closing of 16 U.S. manufacturing facilities, including four assembly plants, and will result in the direct loss of 21,000 jobs.
Between 2010 and 2014, GM's plan calls for a 98% increase in the number of vehicles it imports into the United States from China, Japan, Mexico and South Korea, he said.
"The overall number of vehicles GM will be importing in 2014 represents the production of four assembly plants, the same number that GM plans to close in the United States," the letter says.
GM, which lost about $70 billion over the past two years, is staying afloat on $15.4 billion in federal loans and faces a June 1 deadline to restructure its debt or else face bankruptcy

Way to go Obama!!
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