Buyouts offered to 18K

Shares of GM, which had risen about 7 percent after the company announced its third-quarter earnings Wednesday morning, were up nearly 10 percent after news of the buyouts broke.

Morrissey wouldn't say if GM will begin to lay employees off if too few workers take voluntary buyouts.

18,000 GM employees being offered voluntary severance. GM hinting at layoffs, despite huge profits, a rising stock value, & massive tax cuts. These are the economic issues Democrats should talk about while Trump talks about caravans & hurls insults...

“The buyouts are being offered to 18,000 of the 50,000 GM employees in North America.”

GM offers buyouts to cut costs after strong quarterly profit

It’s possible the buyouts are a way for GM to prepare itself for potential future business-damaging orders from Trump.

"Our discipline came through this quarter," chief financial officer Dhivya Suryadevara said, adding that she believes strong prices are sustainable as GM builds inventory of light-duty pickups and rolls out heavy-duty versions.

GM is offering voluntary buyouts to 18,000 workers. If not enough workers take the offer, the company might consider layoffs.

In a statement, GM said that the company and economy are strong, and it’s making the move to get “ahead of the curve.”

The company made the offer Wednesday to salaried workers with 12 or more years of service.

The average sale price of a GM vehicle in the U.S. reached $36,000 US, $800 US more than a year ago and a third-quarter record.

Company spokesman Patrick Morrissey wouldn't say whether GM is trying to reach a target number of employees.

Just in from @jefferygilbert @GM will offer buyouts to about 18,000 white-collar workers in North America in cost-cutting move. Tune in @wwjmiddays on AM 950 for latest or listen anytime here

Trump had also suggested imposing a 25% tariff on imported cars, a move analysts thought was intended to pressure Mexico into renegotiating the NAFTA trade pact.

Windau was cautious about GM's prospects in the long term, rating the company's shares "hold" due to the risk of rising interest rates, higher commodity prices and the potential that rising gas prices could cut into pickup truck sales.

In June, GM warned the Trump Administration that its steel tariff might potentially lead to fewer jobs and lower wages for Americans working for car companies in the states.

The company has a cost-saving target for the move but has not disclosed that target nor what it is offering employees who decide to opt for the buyout package.

GM also gave a more optimistic forecast for the full year, saying it expects pretax profits at the high end of its previous guidance of $7.63 to $8.16 per share as it rolls out the new pickups and does its best to battle higher commodity costs.

GM offers buyouts to 18K salaried workers in North America

Suryadevara said GM expects tariff-driven commodity price increases to cost the company $1.32 billion this year, $526.39 million in the third quarter alone.

GM offering buyouts to cut North American salaried staff

General Motors is offering buyouts to employees with 12+ yrs with the company as part of a larger cost-saving effort. This move affects 18,000 out of 50,000 U.S. salaried employees. GM says its freeing up money to invest in new technologies.

General Motors is offering buyouts to cut its North American salaried workforce

GM offers buyouts to 18,000 employees

The voluntary severance program for eligible salaried employees is one example of our efforts to improve cost efficiency," the company said.