GM to offer early-retirement package

Jan. 11, 2002
As Ford Motor Co. prepares to unveil its restructuring plan today which could result in the elimination of up to 20,000 jobs, General Motors Corp. (GM) is set to announce an early retirement program for salaried employees in an effort to again cut its combined salaried and contract work force by 10% this year. GM vice chairman Bob Lutz told reporters this week that the moves are not a reaction to
As Ford Motor Co. prepares to unveil itsrestructuring plan today which could result in the elimination of up to 20,000 jobs, General Motors Corp. (GM) is set to announce an early retirement program for salaried employees in an effort to again cut its combined salaried and contract work force by 10% this year.

GM vice chairman Bob Lutz told reporters this week that the moves are not a reaction to the current outlook for the economy or auto sales, which are expected to drop about 10% this year.

"The impression I don't want to give is that this is some sort of emergency program post 9/11 because we're staring at a lower industry," Lutz said. "It's really part of the ongoing slimming down of General Motors."

Lutz said the program will be completely voluntary and will be responsible for only part of the 10% reduction in salaried and contract staff in North America expected this year. The company's not looking at any voluntary separation packages or layoffs of younger salaried employees at the current time, Lutz said.

About the Author

Tim Parry

Sponsored Recommendations

Reducing CSA Violations & Increasing Safety With Advanced Trailer Telematics

Keep the roads safer with advanced trailer telematics. In this whitepaper, see how you can gain insights that lead to increased safety and reduced roadside incidents—keeping drivers...

80% Fewer Towable Accidents - 10 Key Strategies

After installing grille guards on all of their Class 8 trucks, a major Midwest fleet reported they had reduced their number of towable accidents by 80% post installation – including...

Proactive Fleet Safety: A Guide to Improved Efficiency and Profitability

Each year, carriers lose around 32.6 billion vehicle hours as a result of weather-related congestion. Discover how to shift from reactive to proactive, improve efficiency, and...

Tackling the Tech Shortage: Lessons in Recruiting Talent and Reducing Turnover

Discover innovative strategies for recruiting and retaining tech talent in the trucking industry at our April 16th webinar, where experts will share insights on competitive pay...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!