GM Offers Buyout to 18,000 Salaried Employees

Wednesday morning, General Motors announced third-quarter 2018 earnings “reflecting profitability in all core operating segments.” Operating profits were at $2.5 billion, with North American profit margins hovering around 10.2 percent thanks to healthy truck sales. All in all, things were looking pretty good.

Then GM announced a plan to extend buyouts to salaried employees in the region with 12 or more years experience in order to cut costs. Roughly 18,000 salaried employees are said to be eligible for voluntary severance packages. The reason? General Motors says it wants to do this while the company is still healthy, which sounds like a pretty strong hint that bad times are ahead.

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Opel Reaches Severance Deal With Bochum Workers

General Motors subsidiary Opel has come to terms on a severance package for workers at its Bochum factory, set to close this year as part of the company’s restructuring plan.

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  • Kcflyer Gummed up intake valves in under 60,000 miles. Pass.
  • SCE to AUX By the time they're done thinking about it, others will beat them to market by 5 years.Nissan has been thinking about water cooling its EV batteries for a decade, and now that the Ariya has it, they've only now begun to ship it.By the way, "lightweight pickup" will be an oxymoron if it's electric. It won't be 3 -5 tons, but it will easily be 2 if it's to have 250+ miles' range.
  • Mark This is what it cost to drive a Tesla Model S Plaid for 11k+ miles in one year. You would pay more to drive a Yaris that far, never the less a performance car on the Plaid level. I don’t know where they got their math, but mine is actual real world results. We live in a cold climate and have removed our wheel covers, both of which hurt range, so your mileage may vary.
  • Jack Bummer, his successor sounds like just another electric car shill :(
  • IH_Fever Nissan should call for a real pickup before they call for electrification...