General Motors Corp. and the United Auto Workers are in advanced talks on buyout offers for up to 20,000 hourly employees, setting the stage for the biggest exodus of union workers in recent memory.
The massive buyout plan would clear the way for GM to absorb the "flowback" of thousands of idled UAW workers in the automaker's "jobs bank" as well as former GM employees on the payroll of bankrupt Delphi Corp.
The negotiations on buyouts are integral to GM's planned downsizing of its U.S. manufacturing operations and the emergence of Delphi, its largest supplier, from bankruptcy, according to people familiar with the matter.
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