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Saturn Offers Incentives to Pare Work Force

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Bloomberg News

General Motors Corp.’s Saturn plant in Spring Hill, Tenn., is offering incentives for early retirement, unpaid leaves or job sharing to as many as 420 union workers in an effort to cut costs. The plant employs about 7,500 people, including 6,000 United Auto Workers members. The Tennessean newspaper said the offers included $25,000 cash or a $15,000 vehicle voucher plus $10,000 cash. The move comes as sales of Saturn’s S-series sedans, station wagons and coupes have fallen 18% so far this year. The plant, which began production in 1990, has never laid off permanent employees. GM closed off 94 cents at $67.31 on the New York Stock Exchange.

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