The tentative deal
Wages: In Detroit, ranging from $14.35 to $18.50. Wages for skilled-trades workers would be $26.
Buyouts: $85,000 or $140,000, depending on seniority.
Buy-downs: Up to $105,000 over 3 years.
Closures: Plants in Detroit and Tonawanda, N.Y., will close.
Wages
• In Detroit, production and support wages would range from $14.35 to $18.50 an hour, depending on the job. Skilled-trades workers would make $26 an hour.
• In Three Rivers, hourly wages would range from $10 to $18. Skilled-trades workers would be paid $25 an hour.
• In Cheektowaga, N.Y., hourly wages would range from $14.35 to $16.50. Skilled-trades workers would be paid $26 an hour.
New hires
Workers would start at $11.50 in production jobs and receive 51-cent raises every 26 weeks until they reach a maximum for their job category. Newly hired skilled-trades workers would start at $22 an hour and see raises of 50 cents every 26 weeks till they reach $26 an hour.
• Ratification bonus: $5,000.
• Buy-downs: As much as $105,000 for those who stay, distributed annually over 3 years.
• Exit package: Buyouts of $85,000 for workers with fewer than 10 years of seniority and $140,000 for those with more.
• Early retirement bonus: $55,000
Closures
Plants in Detroit and Tonawanda, N.Y., would close. The Detroit plant is on Holbrook, near the Detroit-Hamtramck border
Health care
Workers would pay premiums for the first time. A single employee with four years at American Axle would contribute $10.93 per week, while an employee with a spouse and children would contribute $27.32. These payments would increase 3% in 2010, and 3% every year after that.
Pensions
Frozen for workers with fewer than 20 years of service.
Layoff pay
Ranges from 26 to 42 weeks, depending on seniority.
New work
American Axle would invest $170 million to $200 million in its plants.
• Detroit: The deal adds a full-size van program through the 4-year agreement, brings outsourced midsize truck and SUV programs in house and replaces axle work for heavy-duty pickup.
• Cheektowaga, N.Y.: The deal includes an expansion of the plant, adds two new and three replacement programs.
This the deal that thew workers will be voting on……does it look like a good deal for them?