GM says 5,000 salaried workers will take buyouts, expects $1 billion charge in first quarter
About 5,000 white-collar workers at GM opted to participate in a buyout program to lower the automaker's global headcount and fixed costs.
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A GMC pickup truck is displayed for sale on a lot at a General Motors dealership on January 05, 2023 in Austin, Texas.
Brandon Bell | Getty Images
DETROIT – About 5,000 white-collar workers at General Motors opted to participate in a buyout program that was announced last month to lower the automaker's global headcount and fixed costs.
GM CFO Paul Jacobson said Tuesday the automaker expects to take a roughly $1 billion charge during the quarter as a result of the program. The headcount reduction was part of the company's plans to cut $2 billion in structural costs over the next two years.
This is a developing story. Please check back for additional updates.
