General Motors has begun mailing early retirement offers to its hourly workforce with the aim of clearing out thousands more employees, a person familiar with the situation told Dow Jones.
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GM is offering factory workers a US$25,000 vehicle voucher and up to $45,000 to retire from GM under a deal reached last month with the United Auto Workers. Workers can get the voucher and up to $115,000 to quit early and cut ties with the company, the report said.
Employees have until 24 July to decide whether to take the offer and another week to change their minds, the news agency’s source said. Around 7,600 workers took a similar offer extended earlier this year.
All of GM’s 54,000 UAW-represented workers will receive an offer, which GM is in the process of mailing to workers. GM has declined to disclose a specific target for reductions.
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