Chrysler LLC said on Thursday that it had extended the deadline for its blue-collar workers to accept retirement incentives and buyouts to leave the company.
This is the second time Chrysler has extended the program, which was first offered in early February to all its 26,000 U.S. hourly workers represented by the United Auto Workers union.
Chrysler declined to reveal how many workers have signed up for the program so far but said the extension was made so that the UAW membership could review the changes made to the labor contract.
The company did not have a new deadline and the buyout program would be open until the contract changes are ratified, Chrysler spokesman Max Gates said.
Chrysler, which is controlled by private equity firm Cerberus Capital Management LP
GM said on Thursday that 7,500 U.S. hourly employees accepted buyout offers.
Chrysler's program offers retirement-eligible workers $50,000 in cash and a voucher of $25,000 for a new Chrysler vehicle if they leave.
Workers who opt to leave Chrysler with no retiree health care benefits are eligible to receive $75,000 and a $25,000 car voucher.
(Reporting by Poornima Gupta; Editing by Brian Moss)