0

GM to salaried workers: Why not retire now?

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.

Log in to post0 Comments
With Generous Support From...