UPDATE 1-Axle sees $398 mln in buyout costs-source

Newswire

(Adds background, share price, byline) By Soyoung Kim DETROIT, May 22 (Reuters) - American Axle & Manufacturing Holdings Inc expects total costs of about $398 million to buy out retiring workers represented by the United Auto Workers and provide "buydowns" in exchange for sharply lower wages, a union official said on Thursday. A union official involved in the negotiations who asked not to be named said that American Axle had provided that estimate during talks that resulted in a ...

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