Goodrich buyouts on table

[Omaha Steve]

Full story: http://www.fortwayne.com/mld/journalgazette/15185209.htm



Posted on Thu, Aug. 03, 2006

Goodrich buyouts on table
100 could take deal in Woodburn
By Sherry Slater
The Journal Gazette

Workers at BFGoodrich’s Woodburn plant are weighing the pros and cons of accepting 100 company-offered buyouts as they wait for the outcome of voting Tuesday and Wednesday on a tentative union agreement. The returns are due Saturday night.

The tentative contract, which more than 1,100 local workers were allowed to vote on this week, includes “special separation benefits” that will be offered to 100 workers in Woodburn; 235 workers in Opelika, Ala.; and 100 workers in Tuscaloosa, Ala.

United Steelworkers of America members at all three plants are covered by the same agreement with BFGoodrich Tire Manufacturing. The unions of two of the three facilities must approve the agreement for it to be ratified. Opelika’s final employee meeting is scheduled for 7:30 p.m. Saturday.

The company has previously announced a plan to cut the workforce at Opelika. If the contract is accepted, the buyouts would keep the company from giving pink slips to those who want to keep working.

[geomon666]

1. Does this make sense to anybody?

Woodburn workers who choose the buyout would be given a one-time cash payment of up to two weeks’ pay for each completed year of service with the company, not to exceed 40 weeks of pay. Workers must apply for the benefits on or before Aug. 31 and agree to work until an unspecified date not later than March 31.

Technical maintenance employees are not eligible to participate.

Those who take the buyout must retire from the company. No more than 100 buyouts will be allowed in Woodburn. If more people apply, workers would be approved based on seniority. If fewer than the combined 435 buyouts aren’t claimed at the three facilities, company and union leaders will meet to decide “how to allocate the excess allotments.”

So you won't lose your job but you have to retire? :wtf:

[madrchsod]

2. no unemployment and a couple of hundred dollars a week

after the tax hit on the-one time- cash payment. plus the fact you could be out of work at any time...god i hate american corporations