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GM employees with more than 12 years of experience in the business – approximately 18,000 of its 50,000 employees in the United States – will be offered this offer. As a rule, about 10 to 15% of eligible people accept the offers.
GM has not revealed the details of the offer, but it is usually a formula that offers a certain amount of weekly pay for each year of service.
GM and other manufacturers are actively working to develop autonomous driving technology as well as electric vehicles and ridesharing services. GM has created a separate company called Cruise for these efforts. The company plans to spend $ 1 billion on cruises this year.
GM also faces higher tariff costs on imports of steel and aluminum, which has resulted in an increase in its product costs of about $ 300 million. in the third quarter, which could increase by $ 1 billion next year. There is also a threat that auto parts costs will increase if the Trump administration continues its plans to introduce tariffs on imported vehicles and parts.
Automakers have not announced plans to offer redemptions to hourly production workers at their plants, which would require an agreement with United Autoworkers.
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