General Motors (GM) announced on April 4 that about 5,000 salaried workers had accepted the company’s buyout offers, which the automaker says is enough to avoid layoffs at this time.
The offers will save about $1 billion annually in costs, according to GM.
The automaker said the “voluntary separation program” is part of efforts to “accelerate fixed cost reductions.” However, GM didn’t completely rule out layoffs in the future.
“Given the results of the program, company-wide involuntary separations are not a consideration at this point. The steps we are taking will allow us to maintain momentum, remain agile, and create a more competitive GM,” the company said in a statement….