News briefs (May 7, 2001)

By
|Canadian HR Reporter|Last Updated: 04/26/2001

PLANT CLOSURE DEAL HELPS HEAL WOUNDS

Markham, Ont. — The union representing employees at the soon-to-be-shut down Visteon plant in Markham, Ont. has negotiated one of the richest plant closure packages in the province’s history. The 1,084 employees of Visteon, an auto parts manufacturer, will receive support from a rich pension and benefit fund worth more than $128-million. The deal gives workers over 55 years of age unreduced pension benefits with no minimum years of service, employees with 25 years’ service will receive full health benefits, $2,000 is available to each employee for tuition and training and an EAP is being set up. Employees are also protected in case the plant is sold prior to its closure in 18 to 24 months.

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