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GM employees with 12,000 employees in the United States – about 18,000 of its 50,000 employees in the United States – will be given the offer. Typically about 10 to 15% of those eligible.
GM has not disclosed the details of the offer, but typically it is a formula that offers a certain amount of weekly pay for every year of service.
GM and other automakers are making a major push to develop self-driving technology along with electric vehicles and ride sharing services. GM has created a separate company called Cruise for those efforts. The company expects to spend $ 1 billion on Cruise this year.
GM is also dealing with tariffs on imported steel and aluminum, which is $ 300 million in the third quarter, and could raise costs by $ 1 billion next year. There is also a question of whether or not it is possible for it to be trumped.
The automakers did not submit plans to offer their work to their factories, which would require an agreement with the United Autoworkers Union.
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