GM offers buyouts to most US salaried workers to trim costs


DETROIT (AP) – General Motors is offering buyouts to most of its U.S. salaried workforce and some global executives in an effort to trim costs as it makes the transition to electric vehicles.

The Detroit automaker wouldn’t say how many workers it is targeting, but confirmed that the move is aimed at accelerating attrition to meet a previously announced goal of $2 billion in cost cuts by the end of next year. GM has about 58,000 salaried workers in the U.S.

The company says the offers also are designed to avoid any possible firings at a later date.

Offers will go to white-collar workers with at least five years of service, and global executives with who have been with the company at least two years.

U.S. salaried workers are being offered one month of pay for every year of service, up to 12 months. They’ll also be offered health COBRA health care and part of the bonuses they would receive this year.


Leave a Reply

Your email address will not be published. Required fields are marked *

Interested in advertising with us?

We’d love to have you on the team! Drop us a line and we’ll be happy to follow up. 

Categories

Let's Connect

Follow along on your favorite social media platform and get the latest updates directly in your feed!

Got a tip on a story?
Search

Submit a Tip

Have a tip on a story? Send it directly to our team using the form below!