GM to end controversial 'jobs bank' Monday
5:53 PM Wed, Jan 28, 2009 | Permalink
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NEW YORK -- General Motors Corp.'s "jobs bank" program will end Monday, following a similar move at Chrysler LLC that helps satisfy the conditions the government imposed when it lent the automakers $17.4 billion late last year, according to The Associated Press. The program gives union workers at the Detroit Three most of their pay and benefits while they are laid off - sometimes for years. It was the target of much ire during the companies' requests for a federal bailout. 
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