Mexican Media Brands
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.
#workforcedevelopment
Share
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.
RELATED CONTENT
-
Ford Details Plans to Refurbish Detroit Train Station
Ford Motor Co. says the centerpiece for its new advanced-mobility campus in Detroit’s historic Corktown district will be the former Michigan Central train station.
-
UPDATE: UAW, GM Reach Tentative Labor Deal
General Motors Co. and the United Auto Workers union have reached a possible deal on a new four-year labor contract covering some 48,000 of the union’s hourly workers in the U.S.
-
Bill Ford Describes Trump Meeting Over Mexico Jobs
Ford Motor Co. Chairman Bill Ford reveals he met with Republican presidential candidate Donald Trump a few months ago to discuss Trump’s “infuriating” comments about the company’s activities in Mexico.