#VoluntarySeverance

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.

Matt Posky Oct 31, 2018

Recent Comments

2ACL I have a soft spot for high-performance, shark-nosed Lancers (I considered the less-potent Ralliart during the period in which I eventually selected my first TL SH-AWD), but it's can be challenging to find a specimen that doesn't exhibit signs of abuse, and while most of the components are sufficiently universal in their function to service without manufacturer support, the SST isn't one of them. The shops that specialize in it are familiar with the failure as described by the seller and thus might be able to fix this one at a substantial savings to replacement. There's only a handful of them in the nation, however. A salvaged unit is another option, but the usual risks are magnified by similar logistical challenges to trying to save the original.I hope this is a case of the seller overvaluing the Evo market rather than still owing or having put the mods on credit. Because the best offer won't be anywhere near the current listing.
Peter Buying an EV from Toyota is like buying a Bible from Donald Trump. Don’t be surprised if some very important parts are left out.
Sheila I have a 2016 Kia Sorento that just threw a rod out of the engine case. Filed a claim for new engine and was denied…..due to a loop hole that was included in the Class Action Engine Settlement so Hyundai and Kia would be able to deny a large percentage of cars with prematurely failed engines. It’s called the KSDS Improvement Campaign. Ever hear of such a thing? It’s not even a Recall, although they know these engines are very dangerous. As unknowing consumers load themselves and kids in them everyday. Are their any new Class Action Lawsuits that anyone knows of?
Alan Well, it will take 30 years to fix Nissan up after the Renault Alliance reduced Nissan to a paltry mess.I think Nissan will eventually improve.
Alan This will be overpriced for what it offers.I think the "Western" auto manufacturers rip off the consumer with the Thai and Chinese made vehicles.A Chinese made Model 3 in Australia is over $70k AUD(for 1995 $45k USD) which is far more expensive than a similar Chinesium EV of equal or better quality and loaded with goodies.Chinese pickups are $20k to $30k cheaper than Thai built pickups from Ford and the Japanese brands. Who's ripping who off?

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