DETROIT — About 5,000 white-collar workers at General Motors took the company’s buyout offers, which the automaker says is enough to avoid layoffs at this time. At a Bank of America conference Tuesday, GM Chief Financial Officer Paul Jacobson said the company will take a $1 billion first-quarter charge because of the buyouts, but said it will save $1 billion …
DETROIT — 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 $2 billion in cost cuts, announced with GM’s fourth-quarter earnings, also are being made to prepare for any potential economic downturn or recession, Chief Financial Officer Paul …
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 Detroit: General Motors is offering buyouts to most of its US salaried workforce and some global executives in an effort …
Two months ago, the Los Angeles City Council hatched a plan for weathering its latest financial crisis: Give thousands of city employees up to $80,000 to retire, and hope the savings would be enough to avoid pay cuts for other city workers. Josh Geller, president of the Los Angeles City Attorneys Assn., said the city lacks the legal authority to …
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