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GM Korea Plans Big Cuts in Salaried Workforce
General Motors Co. will offer buyouts in early 2014 to 6,000 salaried workers in South Korea, Reuters reports.
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General Motors Co. will offer buyouts in early 2014 to 6,000 salaried workers in South Korea, Reuters reports.
The cuts will mark the fourth round of reductions in as many years at GM Korea. The company did not indicate how many voluntary retirements it expects to get. It tells Reuters that no hourly production jobs will be eliminated.
One product developer says the group's last scheduled new-car project is the next-generation Spark minicar due in March.
The reduction plan will help the unit prepare for a downturn in business when GM withdraws its Chevrolet brand from Europe in 2015. The Korean unit has supplied that market with almost all cars sold under the Chevy brand.
GM has said it wants to focus in Europe on returning its Opel and Vauxhall brands to profitability.
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