Bloomberg

  • The UAW ...agreed to cut new worker pay in half and end fixed pensions in 2007 as part of an agreement that also relieved automakers from future union retiree health costs in exchange for a one-time contribution to a union-run fund.


Cutting "new worker" pay isn't the same thing as cutting existing workers' pay.

Furthermore:

Auto union asks Obama to reverse 'unfair' bailout terms
  • DETROIT, MICHIGAN: The United Auto Workers union said on Friday it would try to reverse "unfair conditions" imposed in a government bailout
    package when president-elect Barack Obama takes office in January.

    GM and Chrysler, facing a threat of imminent bankruptcy, were offered a 13.4 billion dollar rescue loan which requires tough reforms including more flexible work rules and cuts in wages to make the companies competitive with foreign manufacturers established on US soil.