CAW, Chrysler reach agreement on worker buyout terms

CAW, Chrysler reach agreement on worker buyout terms
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DaimlerChrysler AG and the Canadian Auto Workers reached an agreement on
terms of early retirement and buyout packages for workers who will lose
their jobs due to the automaker's restructuring program announced Wednesday.
It's estimated up to 1,600 of 2,000 Canadian workers will be offered for one
of the buyout packages, said CAW Local 444 president Ken Lewenza.

Among the incentives:

*For workers already eligible to retire, up to $70,000 in early retirement
pay. That's hiked to $85,000 for skilled trade workers. Those workers also
will receive a $30,000 voucher toward the purchase of a Chrysler vehicle
registered in either their or their spouse's names.

*Buyout offers for workers not eligible for early retirement range from
$100,000 for those with eight years or more seniority; $75,000 payments for
workers with five to eight years seniority; and $50,000 for workers with one
to five years seniority.

All amounts are in Canadian currency.

There are 11,500 Canadians who work in Chrysler assembly plants in Windsor
and Brampton, Ontario; at a casting plant in the Toronto suburb of Etobicoke
and at Chrysler's head office operations in Windsor.

The Windsor Assembly Plant will take the brunt of layoffs. About 800 hourly
workers who already are idled saw their jobs disappear Wednesday while
another 500 will lose jobs by the end of the year due to model changeover.
About 5,500 people assemble Caravan and Town and Country minivans as well as
Pacifica crossover utility vehicles at Windsor Assembly.