GM offers buyouts to 18,000 employees - reports

Business 10/31/2018, 4:04 PM
GM offers buyouts to 18,000 employees - reports

General Motors Co. has offered buyout programs to 18,000 of its employees in North America that have amounted at least 12 years of experience at the company, media reported on Wednesday. The workers who were offered the program can opt-in before November 19.

"Even with the positive progress we’ve made, we are taking proactive steps to get ahead of the curve by accelerating our efforts to address overall business performance... We are doing this while our company and economy are strong. The voluntary severance program for eligible salaried employees is one example of our efforts to improve cost efficiency," the Detroit-based carmaker said in a statement released after posting upbeat results for the third quarter.

GM has a total of 50,000 employees in North America and over 180,000 in the world.

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