General Motors and Delphi have reached an agreement with the United Automobile Workers which offers buyouts to all of the former's unionized employees, and more than half of the latter's. GM's offers range from $35,000 to $140,000, whereas Delphi is offering $35,000 across the board. While some 126,000 employees will be receiving these offers, GM still has a lot of ground to make up after some twenty years of growing foreign competition.
See "G.M. Will Offer Buyouts to All Its Union Workers", Micheline Maynard, The New York Times, March 22, 2006