Used Cars News

General Motors is planning to cut several billion from the expense side of the accounting book in the coming years. It means additional job cuts are ultimately going to happen. However, this time GM is omitting its hourly workers from the trimming and is in its place focusing on salaried workers. According to the Detroit Free Press, GM has extended early retirement packages to 9,000 employees. That is approximately 30 percent of GM's U.S. workforce. In all, GM hopes to cut its U.S. and Canadian workforce by 15 percent, or approximately 4,900 employees. However, GM has not yet offered early retirement options to their Canadian workers. GM hasn't provided details on the retirement packages till now. But they said the cuts were a direct result of the dramatic shift away from profitable trucks and SUVs to smaller offerings. U.S. workers will have 45 days (plus a 7-day grace period) to consider the offer.

Labels: General motors