Thread regarding General Motors layoffs

GM Layoff Numbers

These are the numbers:

GM offered buyouts to 17,700 employees in North America with at least 12 years of service in November, according to a document obtained by CNBC at the time. The company was aiming for 8,000 voluntary buyouts, the company previously confirmed. About 2,250 workers accepted severance agreements by Nov. 19, the company previously confirmed. Roughly 1,500 contract jobs have since been eliminated, according to one of the people briefed on the layoffs.

That leaves roughly 4,250 salaried workers and 6,000 hourly employees targeted for layoffs.

This is the timing: (by "not confirming" he basically confirmed it)

Company executives want to complete as many of the layoffs as possible before the company reports its earnings Wednesday, the people said, asking not to be named because the information isn’t public yet.

“We are not confirming timing. Our employees are our priorities and we will communicate with them first,” GM spokesman Pat Morrissey told CNBC Friday.

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Post ID: @OP+XpExydc

5 replies (most recent on top)

The package was a joke. It was financially the same package as those people would get if they were laid off. So, unless they had planned to retire soon anyway, there was no incentive. Whoever put that Voluntary buyout together wasn't realistic.

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Post ID: @fsw+XpExydc

So. If they offered 17,000 severance packages and wanted 8,000 to take it, but only 2,000 some did...that means that they can just layoff 4,000 from those they offered severance packages to and call it good. After all, they were slated to spend the money on 4,000 of those laid off workers anyway.

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Post ID: @fmq+XpExydc

Employees are never the priority.

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Post ID: @kel+XpExydc

But it's OK

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Post ID: @wzn+XpExydc

You stole my post

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Post ID: @ucq+XpExydc

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