About 1,650 Axle workers taking buyouts-UAW

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Jun 25, 2008, 2:01:36 PM6/25/08

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About 1,650 Axle workers taking buyouts-UAW

Tue Jun 24, 2008 7:43pm BST

DETROIT, June 24 (Reuters) - About 45 percent of union workers at American Axle & Manufacturing Holdings Inc (AXL.N: Quote, Profile, Research) have already accepted buyout and retirement offers to leave the company, a union official told Reuters on Tuesday.

About 1,650 of American Axle's 3,650 hourly workers represented by the United Auto Workers have taken buyout offers and early retirement incentives, said Bill Alford, president of UAW Local 235, which represents about half of the supplier's U.S. hourly workforce.

American Axle, which reached a cost-saving four-year contract with the UAW in May, has said it aims to cut more than 2,000 jobs under the new contract.

UAW-represented workers have until mid-July to decide whether to accept buyout offers and have another week to reconsider their decisions.