General Motors Co. said Tuesday it is offering $60,000 buyout packages to entice thousands of skilled trade workers across 14 factories to either retire or quit altogether by March.
The pre-bankruptcy version of GM, of course, spent billions to lure workers out of the company, having been forced to drastically slash its workforce as its share of the U.S. market spiralled from more than 50% during its heyday down to where it stands now at just below 20%.
“The Big 3 have historically used special attrition programs like these to address excesses in manpower,” spokeswoman Kim Carpenter said. “We’re not going to be offering these across the board, but as we continue to address our staffing requirements, it might still be a viable tool.”
GM, whose return to the stock market raised about $23 billion, has been a steady source of good news in recent months. The Detroit giant has ridden improved car sales and its third consecutive quarterly profit to what could turn out to be its first year of profitability since 2004.
In fact, Chief Executive Dan Akerson, clearly feeling the wind at his back, made his case last week to boost the salaries of some of GM’s top executives in order to avoid losing some of the company’s key people.
GM shares, which were priced at $33 for the public offering last month, added 3 cents to close Tuesday’s session at $33.89. |
