Bruce Nunnally Posted January 28, 2009 Report Share Posted January 28, 2009 GM to suspend jobs bank on Feb. 2 Louis Aguilar / The Detroit News The controversial jobs bank program at General Motors Corp. will be suspended indefinitely Feb. 2, moving 1,600 United Auto Workers-represented GM employees out of a system that had GM paying 85 percent of their wages for not doing their jobs. The workers will be put into laid-off status, where they can apply for state unemployment benefits and receive GM supplement pay. The combined checks will equal 72 percent of their compensation, said GM spokesman Tony Sapienza. Ending the jobs bank is one of the provisions of the federal loans received by GM and Chrysler LLC. Last week, Chrysler and the UAW set Jan. 26 as the date to suspend that automaker's jobs bank. [Detroit News] Bruce 2023 Cadillac CT4-V Blackwing Follow me on: Twitter Instagram Youtube Link to comment Share on other sites More sharing options...
Ranger Posted January 28, 2009 Report Share Posted January 28, 2009 The workers will be put into laid-off status, where they can apply for state unemployment benefits and receive GM supplement pay. The combined checks will equal 72 percent of their compensation, said GM spokesman Tony Sapienza. Sounds like they are just paying out of a different check book at a slight reduction. Link to comment Share on other sites More sharing options...
Bruce Nunnally Posted January 29, 2009 Author Report Share Posted January 29, 2009 No, the state unemployment + GM checks are 72%, so part of the burden shifts for some period to the state. Bruce 2023 Cadillac CT4-V Blackwing Follow me on: Twitter Instagram Youtube Link to comment Share on other sites More sharing options...
Ranger Posted January 29, 2009 Report Share Posted January 29, 2009 I understand, but state unemployment is usually not to much. Majority is still coming from the General. Link to comment Share on other sites More sharing options...
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