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GM mulling options to shed $64 billion in retiree health benefits

General Motors is considering at least three proposals to shed most of its $64 billion in costs for retiree health-care benefits in an attempt to return to profitability, according to people with knowledge of the plans, according to bloomberg.com
GM, the world's largest automaker and biggest private provider of medical coverage, is developing the options even as union leaders suggest any comprehensive health-care fix will be rejected, the Web site says. Chief Executive Officer Rick Wagoner said in January the automaker must reduce health-care obligations for U.S. retirees after losing more than $12 billion the last two years.

Posted by   at 10:24 AM to Companies | Permalink

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