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GM is is putting the finishing touches on its viability plan ahead of the federal government's February 17 deadline, and more job losses could be part of the package. Bloomberg reports that the General plans to cut as many as 5,000 salaried workers as part of a broader restructuring plan. The anonymous sources told Bloomberg that the workers could be "fired," which likely means that GM isn't likely to try to achieve their target through layoffs. In late 2008, GM was able to score 5,100 retirement and separation packages to trip its workforce, which now sits at about 29,000 in North America.
GM also offered packages to its entire union workforce with aim of convincing 10,000 or more take a walk. The offer to leave the General includes $20,000 in cash and a $25,000 vehicle voucher. GM's larger goal is to shrink its union and salary workforce in North America from 95,000 to as few as 65,000 men and women by the year 2012. We're not sure how much of GM's February 17 plan will be made public, but with the date just over a week away, we're sure to know about the job cuts sooner than later.
[Source: Bloomberg]