UPDATE 3-GM trades jobs for concessions in UAW contract

Newswire

(Adds details, background) By Kevin Krolicki and David Bailey DETROIT, Sept 28 (Reuters) - General Motors Corp. agreed to keep 16 union-operated plants through 2011 in exchange for a cost-saving deal on health care and other concessions, according to the terms of the top U.S. automaker's tentative labor contract with the United Auto Workers union. Under the deal, GM would shift a retiree health care obligation, estimated at over $50 billion, to a new trust in exchange for initial ...

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