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February 25, 2021
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GM-ANNUAL REPORT
(2007-03-15)
(wgvu) - GENERAL MOTORS WILL TRY TO REDUCE ITS HEALTH CARE
AND PENSION COSTS IN UPCOMING CONTRACT TALKS WITH THE UNITED AUTO
WORKERS UNION.
G-M SAYS IN ITS ANNUAL REPORT ITS OBLIGATION FOR POST-RETIREMENT
HEALTH CARE AND OTHER BENEFITS COULD GROW GLOBALLY. IT WAS $68 BILLION DOLLARS AT THE END OF LAST YEAR.
THE DETROIT AUTOMAKER ALSO SAYS IT SPENT $4.8 BILLION DOLLARS ON HEALTH CARE IN THE U-S LAST YEAR. IT'S EXPECTED
TO DROP ONLY SLIGHTLY TO THIS YEAR.
G-M SAYS IT NEEDS TO CONTINUE TO REDUCE COSTS, AND PRODUCTION
MUST BECOME MORE EFFICIENT TO RETURN TO PROFITABILITY. BUT IT SAID
RESTRICTIONS IN LABOR AGREEMENTS COULD LIMIT COST SAVINGS.
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