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 DETROIT (AP) - In one of the largest buyout programs ever, more than 125,000 hourly workers of General Motors Corp. and auto supplier Delphi Corp. are being offered up to $140,000 to give up their jobs to help cut the companies' crippling labor costs.
GM did not say how many workers it expected to accept the offer, but it is aiming to slash 30,000 hourly jobs by 2008.
Some workers wasted no time in declaring the deal "fantastic" and started calculating what they would get, based on years of service, if they accepted the offer.
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