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Early retirement plans spread as recession bites workers
Companies from General Motors to Sears push early retirement to cut costs with incentives like cash bonuses and enhanced pensions. Experts note most plans target workers 55 plus with 10 years of service, offering 60 to 90 day windows, severance pay and pension adjustments to entice exits while preserving some retirement benefits.
MENTIONED IN THIS ARTICLE
Linda Brenners
Stolberg Field
General Motors
International Harvester
Deere
Montgomery Ward
Burroughs
Teletype
International Management Consultants
Schick
Paul Muller
Arthur Young & Co
Chicago
Sears, Roebuck & Co
Hewitt
Long