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Nearly 7,500 Workers Opt to Leave GM as Detroit Three Seeks Additional Ways to Cut Overhead
SUGAR LAND--March 30, 2009--Researched by Industrial Info Resources (Sugar Land, Texas)--Buyout offers have been nothing new in the automotive sector in recent years. Since 2006 General Motors Corporation (NYSE:GM) (GM) (Detroit, Michigan) has made early retirement and buyout offers to its workers three times, with more than 60,000 employees accepting. Ford Motor Company (NYSE:F) (Dearborn, Michigan) and Chrysler LLC (Auburn Hills, Michigan) have also made similar offers during this time period. During the latest round of buyout and early retirement offers at GM however, the majority of the employees who have accepted, 7,500 to be exact, will take early retirement rather than the buyout.
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Industry Segment: Automotive
Word Count: 614 Words
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