GM to lay off another 1,000 white collar workers
09-16-2009, 07:50 AM
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GM to lay off another 1,000 white collar workers
The United States auto market may be showing signs of a forthcoming turnaround, but General Motors announced this week that it will need to shed another 1,000 white collar workers. The news comes as the Detroit automaker fell short of its target for employee buyout and early retirement packages.
According to The Detroit News, GM plans to finish the latest round of white collar layoffs by the end of the year, with most coming by October 1. The layoffs are expected to primarily take place in Detroit, Warren, Pontiac and Milford. By year’s end, GM will have shed 6,000 white collar employees.
Workers unlucky enough to receive a pink slip will be eligible for up to six months pay and benefits. Executives can receive up to 12 months of coverage. Employees can also opt for an early retirement package.
GM also indicated that more hourly worker layoffs could be on the way, but no announcement has been made as of yet.
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According to The Detroit News, GM plans to finish the latest round of white collar layoffs by the end of the year, with most coming by October 1. The layoffs are expected to primarily take place in Detroit, Warren, Pontiac and Milford. By year’s end, GM will have shed 6,000 white collar employees.
Workers unlucky enough to receive a pink slip will be eligible for up to six months pay and benefits. Executives can receive up to 12 months of coverage. Employees can also opt for an early retirement package.
GM also indicated that more hourly worker layoffs could be on the way, but no announcement has been made as of yet.
More...
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