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GM restructuring agreement with union


GM restructuring agreement with union


General Motors has moved a big step closer to the restructuring demanded by the White House in return for further bailout money.

GM has reached an agreement with the United Auto Workers union over the 20 billion dollars it owes to a trust fund to pay for health care for retired carworkers. The union would get a share of the company rather than the full amount in cash. The deal has now to be voted on by GM workers.

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