English Reading: The economic crisis

In the USA, both General Motors and Chrysler have begun to offer layoff packages to their workforces.

The automobile manufacturers have been hard hit in the recent economic downturn and have been forced to seek federal aid from the U.S. government. Reports say that GM's package includes a $20,000 cash payment and a $25,000 new vehicle voucher. Chrysler will offer a $25,000 vehicle voucher and $50,000 with healthcare and $75,000 without.

The two companies have received $13.4 billion in federal loans to keep them operating, but Congress required them to produce viability plans to demonstrate they were making significant cost cuts and labor concessions in return for the money. UAW workers in Detroit earn $28 an hour; their replacements will earn about half that. The UAW's "jobs bank", a system where workers without duties are still paid, has stopped at both companies.

The entire motor manufacturing sector has suffered under the economic downturn, with the Ford Motor Company announcing a $14.6 billion annual loss, although it has not sought federal aid. GM and Chrysler both ran out of operating funds in December, leading to the federal bailout.