Posted on 03/09/2023 8:34:15 AM PST by devane617
DETROIT (AP) — General Motors is offering buyouts to most of its U.S. salaried workforce and some global executives in an effort to trim costs as it makes the transition to electric vehicles.
The Detroit automaker wouldn’t say how many workers it is targeting, but confirmed that the move is aimed at accelerating attrition to meet a previously announced goal of $2 billion in cost cuts by the end of next year. GM has about 58,000 salaried workers in the U.S.
The company says the offers also are designed to avoid any possible firings at a later date.
Offers will go to white-collar workers with at least five years of service, and global executives with who have been with the company at least two years.
U.S. salaried workers are being offered one month of pay for every year of service, up to 12 months. They’ll also be offered health COBRA health care and part of the bonuses they would receive this year.
The decision to offer buyouts comes at an uncertain time for the auto industry, which is in the midst of a transition from internal combustion to electric vehicles. GM has a goal of selling only electric passenger vehicles by 2035.
(Excerpt) Read more at apnews.com ...
The economy is doing GREAT!
The GM death march has begun.
When they get to full zombie status .gov will have to bail them out....
Again.
Wow, those EVs are far better than I thought. They don’t require any salaried workers, just union folks to assemble all the parts that magically appear.
How many engineers are going to stick around as union wage slaves?
5-10 years from now: Automakers desperately seek executives with ICE experience as glorious electrified future fails to materialize as planned.
“They’ll also be offered health COBRA health care”
My wife was in the medical biling field and used to talk about Cobra......that is NOT anything to brag about.
Obama already bailed them out...Remember?
Typical unquestioning AP Bull. There is no way on God's Green Earth that the entire fleet of autos will ever be EV. I'd wager it hits a plateau in the 30% to 40% range and stalls there.
Go woke go broke proven again.
You are right
Unless GM is paying the premiums.If not that is no perk
“What’s good for GM is good for the Country.”
“Solid as SEARS.”
“Ask the Man Who Owns One”..............................
The entire EV deal is insane and will NEVER work as envisioned. This to me says a lot about the future economy. I’ll bet Many more than expected takes the offer because they see writing on the walll.
California and a few other states are looking to ban new internal combustion engine vehicles in the year 2035.
A few countries in the European Union are looking at the 2035 date as well.
And we see a major auto manufacturer committing themselves to 2035 as being a date by which they won’t manufacture internal combustion engine Vehicles anymore.
It looks like 2035 is the target year.
Nothing says healthy economy like losing an entire American car manufacturer!
Wonder how the stock market responds?
We have 12 years left, as we have been told time is running out to stop global warming.
Didn’t ZGM announce they were moving the EV production to Mexico where they have no pollution laws?
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