Fahey, Jonathan; Muller, Joann
October 2005
Forbes Asia;10/17/2005, Vol. 1 Issue 5, p36
The article discusses the impact of redundant employees on the financial performance of U.S. automobile manufacturers like General Motors. Under a contract it first negotiated with the United Auto Workers in 1984, General Motors is obliged to pay workers who lose their jobs full wages and benefits, even though they are not building vehicles. There are 5,000 General Motors workers are in the jobs bank. The idea behind the jobs bank was to give workers an incentive to do their jobs faster.


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