Home Automotive GM offers buyouts to salaried workers, cites economic concerns

GM offers buyouts to salaried workers, cites economic concerns

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General Motors is proposing an acquisition for office workers to accelerate cost-cutting efforts announced in its 2022 earnings report. The company has yet to announce how many employees it wants to cut toward its ultimate goal of removing $2 billion in operating costs from its balance sheet. APs report.

At a press conference after January’s earnings release, GM’s chief financial officer, Paul Jacobson, said he hoped the company’s position was strong enough to avoid layoffs, instead hiring. He said he was relying on limiting and filling only strategically important roles. consumption. Its wear and tear does not appear to be sufficient so far.

GM has extended this offer to U.S. office workers and select global executives. In addition to the supplemental health insurance and bonus payments scheduled for 2022, the U.S. worker will receive one month’s salary for each year of service, capped at one of his years. provided. The deadline for the employee to accept the package is March 24th, and the buyout must leave the company by the end of the second quarter (June 30th).

auto blog We reached out to the GM for comment. This story will be updated when new information becomes available.

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