General Motors has been looking for ways to cut its workforce down for a long time. Now it’s offering 9,000 salaried workers early retirement packages. CEO Rick Wagoner needs the retirements to get $1.5 billion in salaried-worker cost cuts to meet his goals and compensate for $15.5 billion in losses last quarter. The salaried employees have 45 days to consider the proposal, but the plan seems to be working — Wagoner has already persuaded 53,000 union workers to accept early retirement or buyouts.
GM wants to reduce the payroll by 15 percent. Canadian workers are ineligible.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
