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Both General Motors and Chrysler are attempting cut cut their workforce by offering employee buyouts and car vouchers.

From Reuters:

GM will offer its U.S. hourly workers $20,000 in cash and a $25,000 voucher to buy a vehicle as an incentive to retire or leave the company, an official with the United Auto Workers union briefed on the plan said.

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, according to a person with direct knowledge of the offers.Workers who opt to leave Chrysler with no retiree health care benefits would get $75,000 and a $25,000 car voucher, the person said.

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