GM will offer voluntary buyouts to a 'majority' of its U.S. white-collar employees, according to a letter sent to workers Thursday from CEO Mary Barra.
will offer voluntary buyouts to a "majority" of its U.S. white-collar employees, as it aims to cut $2 billion in structural costs over the next two years, according to a letter sent to workers Thursday from CEO Mary Barra.
The "Voluntary Separation Program," or VSP, comes after the Detroit automaker said last week it would terminate aboutglobally. It will be offered to all employees who have spent five or more years at the company.public filing"Employees are strongly encouraged to consider the program," GM said in an emailed statement to CNBC Thursday.
Eligible employees interested in the program must sign up by March 24. Those who elect to take a voluntary package and are approved will depart by June 30. At the end of last year, GM employed about 81,000 salaried employees worldwide, according to public filings.
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