Deadline extended for buyout decisions by hourly employees

Posted on Friday, March 27th, 2009 at 2:33 PM EDT.

Chrysler LLC issued the following statement on March 26 regarding its special program buyouts offer to hourly represented employees at its U.S. facilities:

“The original deadline for decisions by employees was extended to March 27, 2009, so that employees could assess the ramifications of the 2007 Collective Bargaining Agreement (CBA) Addendum. The addendum has not been ratified and a ratification vote has not been scheduled at this time.

“As a result, after discussion with the International UAW, we have agreed to extend the deadline beyond March 27, 2009, for those individuals who believe that they cannot make a decision until they understand the full ramifications of changes to the UAW contract. A firm date for closure will be established as a deadline, approximately one week after ratification, when that date is known.

“Meanwhile, those employees who choose to accept the buyout offer may proceed with separation from the company.

“We believe this course of action will allow those who want to separate to do so, while also allowing those who require more information on the changes to the UAW contract to have sufficient time to decide.”

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