After a successful-so-far IPO, GM is still looking to cut some 2,000 skilled trade workers at 14 plants across the US. Of course, 8 of those plants are scheduled for closure, and 2 more are on the chopping block should demand drop. GM is reported to be offering up to $60,000 per employee to send them on their way and help reach their ambitious goal.
Obviously at some of these plants where the future is murky, 60 large is a pretty sizable contribution to put into consideration. Sure would beat unemployment, but we’ve got to wonder how many will actually take the carrot and go on their merry way. We’re also wondering if this is just a start of GM thinning their ranks, which we feel should have been done prior to any IPO. Seems like they’re playing catchup on reorganization now that they’ve wrestled control away from the government.