About 7,500 GM workers take buyout, early retirement

General Motors announced today that about 7,500 of its hourly work force have signed up to take buyout and early retirement incentives to leave the compay.

GM offered all of its 62,400 hourly U.S. employees $20,000 cash and a $25,000 voucher to buy a car. Reportedly, most who chose to leave opted for early retirement.

The buyouts and early retirements at GM marked the third the company has made such offers since 2006. From these offers, more than 60,000 workers have accepted them.

Chrysler LLC also announced today that it is extending its deadline to entice hourly workers to leave. The old deadline was Friday.

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.

Eligible workers who choose to leave Chrysler with no retiree health care benefits are eligible to receive $75,000 and a $25,000 car voucher.