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GM Offers Pool of 18,000 Long-Time Employees Voluntary Buyouts

  • The severance program will cost $130 million per 1,800 workers
  • GM Cruise is still adding staff to develop self-driving cars
An employee prepares to install the hood on a GM SUV

An employee prepares to install the hood on a GM SUV

Photographer: Matthew Busch/
Updated on

Typically, fat profits mean job security. But General Motors Co. just followed up a strong quarterly earnings report with a fresh cost-cutting plan, offering voluntary severance packages to a big pool of long-time employees.

Chief Executive Officer Mary Barra offered the buyouts on Wednesday to about 18,000 salaried workers in North America who have been with the company at least a dozen years. GM may consider involuntary cuts if the portion of people who accept the offer isn’t big enough, said Pat Morrissey, a company spokesman.