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.
Actress Sarah Michelle Gellar has teamed up with Fidelity to set kids up for success.
LinkedIn is rolling out generative AI tools for premium members.
Closing arguments began in the trial of FTX co-founder Sam Bankman Fried.
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Collins Dictionary has named its word of the year: A.I.
The Federal Reserve Board will announce its decision on interest rates following the conclusion of its two-day meeting.
UPS is gearing up for a mass hiring event that could help a critical labor shortage affecting the U.S. across all industries. Jon Bowers, human resources director with UPS, joined Cheddar News to discuss the company's job fair known as 'Brown Friday,' which is slated to take place Nov. 3 and Nov. 4, ahead of the holiday season.
A Missouri jury found the National Association of Realtors and other brokerages liable for nearly $1.8 billion in damages on Tuesday. The jury found the parties conspired to keep commissions for home sales artificially high and the lawsuit looked at sales that took place between April of 2015 through June of 2022.
Stocks were little changed in the opening session on Wednesday ahead of the interest rate decision by the Federal Reserve later.
The country’s largest Christian university is being fined $37.7 million by the federal government amid accusations that it misled students about the cost of its graduate programs.
