By Jesse Russell

Just in time for the United Auto Workers convention in Las Vegas this week, the union reached an agreement with General Motors and Delphi that offers buyouts to all 24,000 of the auto parts supplier’s workers. The new agreement potentially averts a strike by the workers. Although GM does not know how much the buyout will cost the company, reaching the agreement will help discussions move onto wage and benefit cuts. After those cuts are made, Delphi can determine how much the buyouts will be. Workers with at least 30 years experience are eligible for the buyout plan.