NATO Monitors Russian Naval Drills Near Finland and Norway
April 24, 2025: NATO closely monitors a series of Russian naval exercises in the northern waters near Finland and Norway amid heightened military activity
- April 25, 2025 10:10 pm
- California
March 10, 2023: General Motors is offering voluntary buyouts to a “significant” of its 58,000 U.S. white-collar employees as it aims to slash $2 billion in structural costs over the coming two years, according to the letter sent to workers from CEO Mary Barra.
The “Voluntary Separation Program,” or VSP, will be given to all U.S. salaried employees who have lived five or more years at the company as of June 30. Outside of the U.S., the automaker offers buyouts to executives with nearly two years at the company.
According to a public filing Thursday, GM expects to take a pretax charge of increased to $1.5 billion related to the buyouts. The majority of the orders are anticipated to be all-cash and occur during the first half of the year, the company stated.
In the letter Thursday, Barra said the program is “designed to accelerate in the U.S.,” assisting the firm in potentially avoiding “involuntary actions” in the future. The buyout deal comes after the Detroit automaker said it would terminate about 500 salaried positions globally last week.
GM last offered an extensive buyout program for roughly 18,000 North American salaried employees in 2018-2019.
“Employees are strongly encouraged to consider the program,” GM said in an emailed statement on Thursday. “By permanently reducing structured costs, we can develop vehicle profitability and remain nimble in a surging competitive market.”
GM stated that the $2 billion cost-cutting program in January, saying 30% and 50% of the savings were expected during 2023. At the time, executives said they were deciding headcount reductions through attrition instead of layoffs.
U.S. employees approved for the buyout will be granted pay for the month for every year they were in for 12 months and COBRA health coverage. They also will get prorated team performance bonuses and outplacement services. Global employees will receive a base salary, incentives, COBRA and outplacement services.
Eligible workers interested in the program must sign up by March 24. Those who choose to take a voluntary package and are allowed will depart by June 30.
A spokeswoman declined to disclose how many employees the company targets to accept the buyout packages. Lastly, according to public filings, GM employed 81,000 salaried employees worldwide.
We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.
April 24, 2025: NATO closely monitors a series of Russian naval exercises in the northern waters near Finland and Norway amid heightened military activity
April 23, 2025: The U.S. Supreme Court is preparing to issue a ruling on whether AI-generated political speech is protected under the First Amendment
Manufacturers often struggle with generating accurate and timely quotes, delaying customer responses and risking profitability. Traditional quoting processes can take days or even weeks, while customers expect responses within 24 hours. Micro Estimating Systems addresses these challenges with advanced software that allows users to generate highly accurate quotes in minutes. By integrating with shop-specific data and automating feature recognition, their solutions ensure precision and speed, empowering manufacturers to make informed decisions and enhance their operational efficiency.
Manufacturers often struggle with generating accurate and timely quotes, delaying customer responses and risking profitability. Traditional quoting processes can take days or even weeks, while customers expect responses within 24 hours. Micro Estimating Systems addresses these challenges with advanced software that allows users to generate highly accurate quotes in minutes. By integrating with shop-specific data and automating feature recognition, their solutions ensure precision and speed, empowering manufacturers to make informed decisions and enhance their operational efficiency.
Manufacturers often struggle with generating accurate and timely quotes, delaying customer responses and risking profitability. Traditional quoting processes can take days or even weeks, while customers expect responses within 24 hours. Micro Estimating Systems addresses these challenges with advanced software that allows users to generate highly accurate quotes in minutes. By integrating with shop-specific data and automating feature recognition, their solutions ensure precision and speed, empowering manufacturers to make informed decisions and enhance their operational efficiency.
Manufacturers often struggle with generating accurate and timely quotes, delaying customer responses and risking profitability. Traditional quoting processes can take days or even weeks, while customers expect responses within 24 hours. Micro Estimating Systems addresses these challenges with advanced software that allows users to generate highly accurate quotes in minutes. By integrating with shop-specific data and automating feature recognition, their solutions ensure precision and speed, empowering manufacturers to make informed decisions and enhance their operational efficiency.