April 6, 2006 |
Delphi Corp. creditors objected in court to a company job-cutting plan that might require the ailing auto-parts maker to repay billions of dollars in labor costs to General Motors Corp. GM, Delphi and the United Auto Workers union agreed March 22 on a plan to offer 13,000 Delphi employees incentives to retire and to give jobs at GM to 5,000 more. GM, Delphi's former parent, agreed to assume the cost of the incentives. Unsecured creditors said Wednesday that the U.S.
March 21, 2006 |
General Motors Corp. and its former parts-making unit Delphi Corp. may offer some United Auto Workers members as much as $35,000 to retire, a Delphi union leader said. The enticement is one of several that may be presented to tens of thousands of workers. It is part of a labor accord GM, Delphi and the union are negotiating, said George Anthony, chairman of UAW Local 292 in Kokomo, Ind., who is regularly briefed by negotiators.
July 8, 2003 |
Longs Drug Stores Corp. offered buyouts Monday to all store managers as part of an attempt to trim its workforce by about 2% and to centralize operations. The buyouts are part of a program to change store operating procedures, Walnut Creek, Calif.-based Longs said without being more specific. Employees have until July 21 to accept a buyout and will leave between Aug. 1 and Sept. 2. Longs has about 22,000 employees. The chain has 463 stores in the Western states and Hawaii.
CALIFORNIA | LOCAL
March 26, 1998 |
Meeting behind closed doors Wednesday, the Los Angeles City Council gave final approval to the last element of a $360-million buyout and severance package designed to avert sweeping layoffs at the Department of Water and Power. The council's 12-2 decision came despite concerns that the cost of the package of cash severance payments and enhanced retirement benefits had increased by $14 million since its last public airing.
March 26, 1996 |
BankAmerica Corp. said it adopted a plan providing a generous severance pay package for about 885 executives in the event they lose their jobs in a merger or takeover.
CALIFORNIA | LOCAL
July 18, 1995
Los Angeles City Councilman Joel Wachs on Monday criticized a plan that has provided cash incentives to 1,500 Department of Water and Power employees to take early retirement or resign, calling it an overly generous abuse of the system and vowing to limit similar buyout plans in the future.
July 22, 1995 |
Citing the California economic downturn that has steadily eroded advertising revenue, the Los Angeles Times on Friday announced the closing of eight specialized editorial sections, including the weekly World Report and Spanish-language Nuestro Tiempo sections, and the elimination of 150 editorial positions. The cuts are part of a broad restructuring that Mark H. Willes, the new president and chief executive of The Times' corporate parent, Times Mirror Co.