GM offers buyouts to 'majority' of U.S. salaried workers
Publishing timestamp: 2023-03-09 11:14:03
Summary
General Motors will offer voluntary buyouts to the majority of its 58,000 U.S. white-collar employees as part of its plan to cut $2 billion in structural costs over the next two years. The automaker expects to take a pre-tax charge of up to $1.5 billion related to the buyouts, with the majority of charges expected to be all-cash and occur during the first half of the year. The buyout offer comes after GM said it would terminate about 500 salaried positions globally. Eligible employees interested in the program must sign up by March 24, and those who elect to take the voluntary package and are approved will depart by June 30.
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Keywords: business, united states, transportation, mary barra, autos, detroit, breaking news: business, markets, business news, general motors co,
Source: https://www.cnbc.com/2023/03/09/gm-buyouts-us-salaried-workers.html