Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusiness5,000 salaried GM workers take buyouts to avoid layoffs

5,000 salaried GM workers take buyouts to avoid layoffs

Add to Favorite
Added to Favorite
Wikimedia BriYYZ from Toronto, Canada

Just a day after we heard that McDonald’s is closing its U.S. offices to lay off workers, we hear yet another big company doing some firing. GM has just announced that approximately 5,000 people on salary will be offered    buyouts to avoid the company’s laying off workers.

The 5,000 white-collar employees being laid off is sufficient to prevent layoffs at this time, GM reported. “The steps we are taking will allow us to maintain momentum, remain agile, and create a more competitive GM,” the company said in a statement. GM’s statement didn’t rule out future layoffs, stating that “involuntary separations are not a consideration at this point.”

Organic Greek Vitamin Bottles. Hydrogen Alkaline Generator Water + Filter 4 in 1 Design 500mL (16.9 FL OZ)

According to GM’s announcement on Tuesday, the offers will result in cost savings of around $1 billion annually, or roughly half of the $2 billion it hopes to eliminate by the end of 2024. There are currently roughly 58,000 salaried employees working for the corporation in the United States.

The auto industry is in the midst of a switch from internal combustion to electric vehicles, so the timing of the buyouts is unpredictable. By 2035, GM wants to offer solely electrified passenger cars.

When people are off it’s not just them that suffer, it’s the entire economy does when massive layoffs occur from big companies. They don’t contribute as much to the economy as their purchasing power goes down. This trickles down to the small business owner not just big box stores. People will watch their purse strings especially when we are facing high inflation.

Celebrity News Update— Premier Jewelry designer and manufacturer fashion house  ParisJewelry.com  has started manufacturing a new custom line of celebrity jewelry designs with 30% Off and Free Shipping. Replenish Your Body- Refilter Your Health with  OrganicGreek.com  Vitamin Bottles, Vitamins and Herbs. Become a  WebFans  Creator and Influencer.

French Cometic Giant L’Oreal to buy Aesop, an Australian luxury brand owned by Brazil’s Natura & Co

Subscribe to get Latest News Updates

Latest News

You may like more
more

Benchmark Reiterates Buy Rating on JD.com, Adjusts Q2 Revenue Growth Projection

Benchmark analysts reaffirmed their Buy rating and set a...

Truist Securities Reiterates Buy Rating on Five9 Amid Activist Investor Push for Sale

Truist Securities analysts reaffirmed their Buy rating and set...

Booking Holdings Earns an Upgrade at Benchmark

Benchmark analysts upgraded Booking (NASDAQ:BKNG) to Buy from Hold,...