GM Offers 18,000 Salaried Employees A Buyout

[Gorehamj]

 

John Goreham
Contributing Writer, GM-Trucks.com
10-31-2018

 

General Motors sent a letter to 50,000 employees this week letting them know that the company plans to offer buyouts to a significant number of employees. The offer will be made to any salaried employee with more than 12 years of service. About 18,000 employees qualify. GM warns that if it does not get enough employees to take the buyout, it will be forced to consider layoffs. This is not an early retirement offer from GM. Rather, employees in their 30s and 40s are being considered. "We always have the need to acquire new talent. We're trying to address ongoing efforts to reduce costs but continue our efforts in working on the future of mobility," said GM Spokesman Pat Morrissey. "We'll continue to recruit in select areas of the business."

 

GM said in a Wednesday statement. "We are doing this while our company and economy are strong. The voluntary severance program for eligible salaried employees is one example of our efforts to improve cost efficiency."

 

Sources: The Detroit News & The Detroit Free Press

 

 

 

 

[newdude]

So what do they want to do, hire a bunch of 18-30 year olds who have no clue what they are doing and are just a bunch of memeing hipsters?  So they can bring them in on a way lower dollar amount then they are spending?  They just posted 2.5 BILLION DOLLAR PROFIT!  Sounds like they have more than enough money.  Why do they want to flush out 30-40 year olds?  Aren't they young enough to keep? 

Edited October 31, 2018 by newdude

[Gorehamj]

Reading between the lines, I think the problem is that many of these employees are conventional car and truck experts. See that part about focusing on "mobility?" That means self-driving EVs.  Just my own interpretation outside of the formal reporting.  

[Grumpy Bear]

13 minutes ago, Gorehamj said:

Reading between the lines, I think the problem is that many of these employees are conventional car and truck experts. See that part about focusing on "mobility?" That means self-driving EVs.  Just my own interpretation outside of the formal reporting.  

So basic, a force fed diet of something anyone older than 20 doesn't want. Then there's newdude idea. Lived it, had the tee shirt and burned it with my severance check. 

[Black02Silverado]

To me it is a way to keep from paying retirements and benefits for those that are getting close.

[O_J_Simpson]

The start of cutting benefits. The new employees will not get the same retirement pension or 401k match. 

[j-ten-ner]

I've to admit that I'm not a candidate for the "future of mobility" when it comes to, as suggested by Gorehamj, self driving vehicles. But then, I'm older than 40.

I don't know whether a 30 or 40 year old worker can be a "conflict of interest" regarding the future of automobiles.

Not 18.000 of them anyway. Most of them are likely to work on the production line and probably care less of what they are assembling.

GM is hiring 18.000 young (avocado toast eating) engineers now? Didn't think so.....

It's about time to reconsider to whom I give my money to.

 

so long

j-ten-ner

[Loco-diablo]

Bring new, young, fresh minded employees in for less money.. That's what it's all about. Period.

[Grumpy Bear]

9 minutes ago, Loco-diablo said:

Bring new, young, fresh minded employees in for less money.. That's what it's all about. Period.

Fresh minded? WOW! You mean absent experience, right? 

 

Less money, yes. Here's a fresh thought from an old mind. Cut employees wages in half and double the price of products.

 

Now there's a way it improve profit margins.    Rubbish. Here's the thing with greed. It never EVER gets its belly full. 

[Loco-diablo]

6 minutes ago, Grumpy Bear said:

Fresh minded? WOW! You mean absent experience, right? 

 

Less money, yes. Here's a fresh thought from an old mind. Cut employees wages in half and double the price of products.

 

Now there's a way it improve profit margins.    Rubbish. Here's the thing with greed. It never EVER gets its belly full. 

ya, i guess 'fresh minded' was wrong.. What was I thinking? It's ALL about cutting costs.. LESS MONEY.. I'm surprised a good chunk of their engineering isn't offshore (or is it?), like the tech industry. 

[KARNUT]

I saw a report on Fox that it was white collar jobs. Could have something to do redundancies.


Sent from my iPhone using Tapatalk

[Sierra Dan]

1 hour ago, Loco-diablo said:

Bring new, young, fresh minded employees in for less money.. That's what it's all about. Period.

This is a new trend and not only GM's idea, unfortunately.

Most of these new young hires have mounting student loan debt and how or why would they be willing to work for less straight out of school?

Seems to defeat the purpose of an education to me.

 

 

 

1 hour ago, Loco-diablo said:

ya, i guess 'fresh minded' was wrong.. What was I thinking? It's ALL about cutting costs.. LESS MONEY.. I'm surprised a good chunk of their engineering isn't offshore (or is it?), like the tech industry. 

Speaking of "offshore"...……..

 

Can anyone pronounce this name? ^^^^^^^^^^   LOL

[j-ten-ner]

8 hours ago, Sierra Dan said:

 

 

Can anyone pronounce this name? ^^^^^^^^^^   LOL

No need as long as the car is made in 'merica      hahaha

 

so long

j-ten-ner

[slimjim2525]

On 10/31/2018 at 6:49 PM, Black02Silverado said:

To me it is a way to keep from paying retirements and benefits for those that are getting close.

This!!!

[Zane]

Every time GM finishes one of these buyouts and new hires are brought in, the quality and consistency of my ability to communicate with GM as a whole drops significantly. The difference in the last 10 years is STAGGERING.