General Motors on Tuesday said about 5,000 of its salaried employees have elected to leave the company through voluntary buyouts.
CFO Paul Jacobson shared the number during a Bank of America automotive conference and said the program came in line with the automaker’s expectations as part of an effort to cut $2 billion in costs over the next two years. The number represents about 6 percent of the 81,000 salaried employees GM had globally at the end of 2022.
GM leaders told employees in a memo Tuesday that no layoffs or terminations are on the table for now.
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