Current Events > GM won't lay off employees, but is urging them to quit instead.

(+) Yeah! (+)

Lol. This seems like the weirdest thing to do. Help us make money by leaving without benefits.

https://amp.cnn.com/cnn/2023/03/09/business/gm-layoffs/index.html

In a regulatory filing, the automaker said it was looking to save costs through attrition and a voluntary separation program in which eligible employees would get a lump sum payment and other severance based on how long they worked at the company. The buyouts would cost the company $1.5 billion before taxes this year.

The voluntary separation program will be offered to all US salaried employees with at least five years of service and global executives that have been with the company for at least two years, a GM spokesperson told CNN. In a statement, the company said that employees are "strongly encouraged to consider" the program. we can improve vehicle profitability and remain nimble in an increasingly competitive market," a GM spokesperson said in a statement.

Though I dont understand if they are getting anything at all based on the above message..

salaried employees

This is a, uh, bronze parachute. You get a decent "go away" check, and have office and/or management experience on your resume.

GM has 167,000 employees globally, with 124,000 in North America. That includes more than 42,000 members of the United Auto Workers union.

This implies that office staff and management in the US outnumber the actual line workers about 2 to 1.

TBH I don't know why anyone would buy a GM in 2023. Hopefully they go the way of the dinosaurs soon.

cuttin_in_farm posted...

voluntary separation program in which eligible employees would get a lump sum payment and other severance based on how long they worked at the company.

This isn't really that weird is it TC? I've worked in companies where they have a period for people to do voluntarily layoffs. If not enough do the voluntary, then a regular round of layoffs happen.

It essentially gets older workers to accelerate their retirement plans since they end up leaving with a better severance package from taking the voluntary offer.

Kombucha posted...

TBH I don't know why anyone would buy a GM in 2023. Hopefully they go the way of the dinosaurs soon.

This is a weird take.

Alteres posted...

This is a weird take.

Why? Elon Musk can take their market share and we can all praise our new god king.

Kombucha posted...

TBH I don't know why anyone would buy a GM in 2023. Hopefully they go the way of the dinosaurs soon.

GM makes a lot more than just vehicles. IIRC they were one of the catalyst for the bailout in 2009.

The auto industry does this all the time.

Kombucha posted...

Why? Elon Musk can take their market share and we can all praise our new god king.

Because hoping hundreds/thousands lose their livelihoods because I dont like brand is a weird take.

Devilanse333 posted...

Because hoping hundreds/thousands lose their livelihoods because I dont like brand is a weird take.

You're right. All of those people that lost their jobs in the horsing industry when we went to automobiles. Sometimes I shed a tear for them.

Kombucha posted...

You're right. All of those people that lost their jobs in the horsing industry when we went to automobiles. Sometimes I shed a tear for them.

Considering the absolute silliness of your train of thought, I think the only proper response here is to firmly declare that this NEVER would have happened in the horsing business.

emblem-man posted...

This isn't really that weird is it TC? I've worked in companies where they have a period for people to do voluntarily layoffs. If not enough do the voluntary, then a regular round of layoffs happen.

It essentially gets older workers to accelerate their retirement plans since they end up leaving with a better severance package from taking the voluntary offer.

Yea, I couldnt decipher from the wording if those who leave actually get anything.

masterpug53 posted...

Considering the absolute silliness of your train of thought, I think the only proper response here is to firmly declare that this NEVER would have happened in the horsing business.

xD

The economy is in shambles!!

I guess I fucked up the title. I posted this 1 hour before TC no one posted...

https://gamefaqs.gamespot.com/boards/400-current-events/80373577

emblem-man posted...

This isn't really that weird is it TC? I've worked in companies where they have a period for people to do voluntarily layoffs. If not enough do the voluntary, then a regular round of layoffs happen.

It essentially gets older workers to accelerate their retirement plans since they end up leaving with a better severance package from taking the voluntary offer.

This

It's an established thing and imo way better than direct layoffs

BlueTigerLion posted...

I guess I fucked up the title. I posted this 1 hour before TC no one posted...

https://gamefaqs.gamespot.com/boards/400-current-events/80373577

Yeah, you gotta be rage-baity and a little misleading. Stating facts plainly and objectively just gets ignored.

GM will absolutely lay off employees if they don't get enough volunteers.

emblem-man posted...

This isn't really that weird is it TC? I've worked in companies where they have a period for people to do voluntarily layoffs. If not enough do the voluntary, then a regular round of layoffs happen.

It essentially gets older workers to accelerate their retirement plans since they end up leaving with a better severance package from taking the voluntary offer.

Yeah, my dad retired a few years early from his electrical engineering job because the company was offering like a years salary as a severance package.

If working directly for GM is anything like dealing with them as a dealership, I'd probably encourage them to take that, too. I don't think anyone in our sales, parts, or finance departments have ever had a good thing to say about Chevy or GM Financial

Pitlord_Special posted...

Yeah, my dad retired a few years early from his electrical engineering job because the company was offering like a years salary as a severance package.

If there's no non-compete, this is an absolute win.

Plus I think you get to file unemployment since you were technically laid off

GM has done this before

Kombucha posted...

You're right. All of those people that lost their jobs in the horsing industry when we went to automobiles. Sometimes I shed a tear for them.

Sounds like you meant to compare this to when the automobile replaced horse drawn carriageswhich doesnt apply because the GM workers arent losing their jobs because we now have teleporters and cars are obsolete.

Devilanse333 posted...

Sounds like you meant to compare this to when the automobile replaced horse drawn carriageswhich doesnt apply because the GM workers arent losing their jobs because we now have teleporters and cars are obsolete.

GM vehicles are becoming obsolete.