General Motors has announced that it will shift some some senior employees to 401(k)-type pensions. The company also said that white-collar workers would get another week of vacation and that they are changing bonuses for some salaried employees. The company says that the changes will help make General Motors more competitive.
See "General Motors moves to 401(k)-style pension, adds week vacation for white-collar workers", Greg Gardner, Detroit Free Press, February 14, 2012