General Motors plans to cut costs with employee buyout offers


Posted on: November 1st, 2018 by ABC News No Comments

Bill Pugliano/Getty Images(DETROIT) — General Motors is offering buyouts to 18,000 long-time employees in an effort to cut costs.

The automaker said the buyout offers are being made “while our company and economy are strong.”

GM does not lay out specifics about what is being offered to the white collar employees who have worked at the company for more than 12 years. Exactly how many employees GM hopes to shake from its payrolls is also not clear.

Automotive analyst Dave Zoia of Wards Auto suggests that knowing exactly how many people the company hopes to cut could be helpful.  

“It would help to know, are they targeting really 5,000 people? Are they targeting 10,000 people?” he says.

GM has not suggested possible layoffs if the employees don’t accept buyout offers.

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