GM to offer buyouts to 46,000
General Motors Corp. CEO Rick Wagoner said Thursday that the company could have to shutter more U.S. factories or eliminate shifts at plants to bring the automaker's production in line with declining demand for cars and trucks in its home market.
He didn't say how many plants will close or whether GM has decided which facilities to shutter, but said the closures will include powertrain and stamping factories as well as assembly plants. Additionally, Wagoner said the company will offer buyouts to 46,000 of its 72,000 blue collar workers. GM wants to cut costs by about $5 billion by 2011.
GM will extend buyout offers to its entire U.S. work force next month and usher the workers out in April. GM hasn't announced how many workers it will accept from those who are eligible.
As Kia and Toyota gain market share.
46 thousand buyouts out of 72,000 workers?
What if they all take it?
buyouts must be working.
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