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GM to announce early retirement deal-sources

Written by: Staff
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DETROIT, Mar 22 (Reuters) General Motors Corp. will announce on Wednesday an early retirement deal with the United Auto Workers union, people familiar with the talks said.

The deal will include payouts starting at ,000, one source close to the negotiations said. The deal will also allow many workers at Delphi Corp., GM's bankrupt former subsidiary, to return to GM, the source said.

The deal would accelerate GM's plan to cut 30,000 jobs in North America by 2008, part of a broader restructuring plan at the world's largest automaker.

GM declined immediate comment. Representatives from the union and Delphi were not immediately available for comment.

REUTERS SD VC1938

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