About 5K GM salaried workers take buyouts, avoiding layoffs
About 5,000 white-collar workers at General Motors took the company’s buyout offers, which the automaker says is enough to avoid layoffs at this time DETROIT -- About 5,000 white-collar workers at General Motors took the company's buyout offers, which the automaker says is enough to avoid layoffs at this time. GM said Tuesday that the offers will save about $1 billion per year in costs, about half of the $2 billion it wants to cut annually by the end of 2024. The company now has about 58,000 salaried workers in the U.S. The buyouts come at an uncertain time for the auto industry, which is in the midst of a transition from internal combustion to electric vehicles. GM has a goal of selling only electric passenger vehicles by 2035. The Detroit automaker and its competitors are making huge capital outlays to develop and build new electric vehicles, all while continuing to make cars, trucks and SUVs with gasoline engines. They're also spending big to get scarce minerals and parts ...