GM offers early retirement packages to 9,000 salaried U.S. workers
08/29/2008, 3:27 PM
By Drew Johnson
General Motors is planning to trim several billion from the expenditures side of the ledger in the coming years, which means further job cuts are inevitable. However, this time GM is sparing its hourly workers from the guillotine and is instead focusing on salaried workers.
According to the Detroit Free Press, GM has extended early retirement packages to 9,000 employees – nearly 30 percent of GM’s U.S. workforce.
In all, GM hopes to cut its U.S. and Canadian workforce by 15 percent, or roughly 4,900 employees. However, GM has yet to offer early retirement options to its Canadian workers.
GM failed to give details on the retirement packages, but did say 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 to consider the offer, plus a 7-day grace period.
08/29, 3:37 PM
posted by:
corvette
lets see if this will help stop some of the bleeding.
08/29, 3:41 PM
posted by:
Madcapp
Is there anybody left at GM? Since 1990 GM must have laid off, fired, or early retired at least 20 million people.
08/29, 3:59 PM
posted by:
400horseSS
They can take their SKILL to another job (standing around, eating) way too much management.
08/29, 4:05 PM
posted by:
johnnycanuck
…and don’t forget stealing office supplies.
08/29, 4:13 PM
posted by:
400horseSS
Oh my bad, the lower management supers will be demoted to the line, just the facts folks.
08/29, 4:39 PM
posted by:
RaineMan
It is nice to see that they are at least being fair about it. But honestly some of those corporate managers are probably making less than the line workers.
08/29, 4:44 PM
posted by:
400horseSS
^ Wrong.
08/29, 4:54 PM
posted by:
crackerhemi
Why don’t you take this offer 400cracker? It will give you more time to post meaningless comments
08/29, 5:07 PM
posted by:
brassmonkey
I need my stapler. My red stapler…
08/30, 9:36 AM
posted by:
DeansterTJ
Once upon a time companies wouldn’t stand for this kind of financial hemorrhage and fire everyone in sight. The fact that GM is willing to do this is a blessing. There’s no loyalty left on the part of the working man anymore – instead of realizing that sometimes the cookie crumbles, this class of conveyor monkeys crosses their arms and throws a tantrum like a 2-year old. If I ran GM I would close everything up and move to Mexico. Sorry 400, but your momma was responsible for supporting your ass, not GM.
08/30, 12:29 PM
posted by:
maxcar
looks like the general is really desperate for money:
http://santabarbara.craigslist.org/jwl/818438927.html
08/30, 11:52 PM
posted by:
beatusmongous
Well no wonder they didn’t bid on the “Million Mile Truck”.
08/31, 7:58 PM
posted by:
Ratman
Hopefully GM will go out of business. All they make is crap, crap and more crap!
09/02, 3:11 PM
posted by:
ktulu
Let’s C what happens.
Hobe R the days wehen GM made mostly crap