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GM Offers Buyouts to 18,000 Salaried Workers
General Motors Co. is launching a new round of buyouts for about 18,000 of its 50,000 white-collar employees in North America.
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General Motors Co. is launching a new round of buyouts for about 18,000 of its 50,000 white-collar employees in North America.
The plan targets salaried workers who have been with the company for at least 12 years. Candidates have until Nov. 19 to decide whether to participate. GM says it may fire workers if it fails to find enough volunteers or if other continuing cost-cutting initiatives fall short.
GM describes the new buyouts as a proactive step to prepare for a global slowdown in sales and face the mounting costs of electrifying its vehicles, adopting autonomous driving technologies and developing alternative transportation services.
The company notes that a separate efficiency initiative launched in 2015 is on target to lower costs by $6.5 billion by the end of this year.
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