The "majority" of General Motors' salaried workforce and some executives have received buyout offers. The company said it's trying to cut costs to invest more in electric vehicles.
The company currently has 58,000 salaried employees in the U.S. The buyouts will target workers who have been with the company for at least five years and executives who have worked at the company for at least two years.
As part of the buyouts, workers will get one month of pay for every year of service up to 12 months. COBRA health benefits are also included. Workers will have to decide if they will sign the buyout by March 24, which will put them on track to leave the company by June 30.
GM previously said it planned to make $2 billion in cost cuts in 2023 as part of its EV transition, which has required shifting resources from its legacy auto business to new pursuits.
It also said during its most recent earnings report that it would strategically leave open some positions that were lost due to attrition.
Stocks opened higher for the first time this week as Wall Street digested positive economic data that showed inflation was cooling.
Fans of the Grand Theft Auto series got a glimpse of the latest release that's not due out until 2025. The trailer was officially released after a leak on the 'X' platform, giving an idea to industry experts of the massive effect GTA will have on the gaming sector. Cheddar News senior reporter Michelle Castillo breaks it all down.
Tax season is around the corner as soon as we conclude the holiday festivities. Mark Steber, chief tax information officer with Jackson Hewitt, joined Cheddar News to discuss some tax changes that people should be aware of and what to expect during next year's tax filing season.
There's a winning lottery ticket in Florida worth $44 million that's gone unclaimed and is set to expire next week.
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New regulations from the U.S. government may cause the price of electric vehicles to go up.
New data shows job openings fell in October even though hiring remains healthy.
The holiday season is here and it could be a stressful time as people plan shopping, cooking and traveling. Sally Holmes, editor-in-chief of InStyle Magazine, joined Cheddar News to discuss a new social media trend #Treatculture that helps people take a moment to treat themselves and how that is a psychological benefit to relieve stress.
English Wikipedia raked in more than 84 billion views this year, according to numbers released Tuesday by the Wikimedia Foundation, the non-profit behind the free, publicly edited online encyclopedia. And the most popular article was about ChatGPT (yes, the AI chatbot that’s seemingly everywhere today).
Wikipedia has released its list of most viewed articles for 2023 with the site seeing over 84 billion visits. The most searched topic was ChatGPT with nearly 50 billion page views
