General Motors and the United Auto Workers have reached a tentative deal to cut $1 billion worth of annual health care benefits for hundreds of thousands of American retirees. G.M. declined to say what benefits would be cut, beyond saying that the actions would be directed at retiree medical costs. The Ford Motor Company and Chrysler are expected to seek similar concessions, since all three companies have similar labor contracts.
See "General Motors and Union Reach Agreement on Health Care Costs", Danny Hakim, The New York Times, October 16, 2005