A week after closing the Chrysler jobs bank, the UAW has reached an agreement with General Motors (NYSE:GM) to close the jobs bank for that company beginning February 2.
 

GM is paying the 1,600 workers currently in the system 85% of their on-the-job wages. As of February 3, they will receive a measure of supplemental pay from GM and can apply for unemployment, the total of which should come to 72% of their former pay.

Ford Motor Company’s (NYSE:F) jobs bank remains open.