About 5,000 white-collar workers at General Motors took the company's buyout offers, which the automaker says is enough to avoid layoffs at this time.
GM said Tuesday that the offers will save about US$1 billion per year in costs, about half of the US$2 billion it wants to cut annually by the end of 2024. The company now has about 58,000 salaried workers in the U.S.
"The steps we are taking will allow us to maintain momentum, remain agile, and create a more competitive GM," the company said in a prepared statement. Last month GM offered buyouts to white-collar workers with at least five years of service, and global executives who have been with the company at least two years.
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