GM offering buyouts to salaried employees
General Motors is offering buyouts to salaried workers to help cut costs, Dow Jones reported Wednesday. About 18,000 employees are eligible.
The company said it is making the move now to take advantage of the strong economy and its own healthy performance. The largest U.S. automaker reported better than expected earnings on Wednesday, fueled by strong sales of trucks and crossovers in North America.
GM was not immediately available for comment.
The automaker is making the cuts in response to rising commodity costs, said CFRA analyst Garrett Nelson. The hope is enough workers take the buyouts, the automaker will not have to resort to layoffs.
GM's U.S. rival Ford said in early October it plans to thin the ranks of its salaried workforce by the second quarter of next year.