GM to offer new round of buyouts: UAW chief

DETROIT (Reuters) - United Auto Workers President Ron Gettelfinger said on Friday that the proposed labor contract with General Motors Corp allows the automaker to offer a new round of buyouts to its union workers.

"There will be a (buyout) offer," Gettelfinger said at a media briefing at the union's headquarters.

The union said it would begin negotiations with Ford Motor Co. and Chrysler LLC next week and it hoped to have the GM deal ratified by October 10, Gettelfinger said.

The UAW had extended its previous contract with both Ford and Chrysler to focus on bargaining with GM.