GM making buyout offer to all salaried employees in U.S. with five years’ tenure
General Motors Co. on Thursday announced employee buyouts that are expected to lead to charges of $1.5...
General Motors Co. on Thursday announced employee buyouts that are expected to lead to charges of $1.5 billion as the automaker seeks to be “nimble in an increasingly competitive market.”
The announcement comes a little over a week after the Detroit News reported that GM was cutting about 500 jobs, which came roughly a month after the company said it wasn’t planning layoffs.
The buyouts, which the company is calling a voluntary separation program, are being offered to U.S. salaried employees with at least five years of service and to global executives with at least two years of service, GM said.
The program offers employees “an opportunity to make a career change or retire earlier,” the company said. “Employees are strongly encouraged to consider the program.”
London — Oil fell for a third day on Thursday as fear about...
London — Oil fell for a third day on Thursday as fear about the economic effect of rising interest rates offset a surprise drop in US crude inventories and hope for Chinese demand.
US Federal Reserve chair Jerome Powell’s comments this week on the likelihood that interest rates will need to be raised more than previously expected in response to recent strong data continued to weigh on oil and other risk assets because of the potential effect on economic and demand growth.
Brent crude fell by 34c, or 0.4%, to $82.32 a barrel by 9.02 am GMT, while US West Texas Intermediate crude slipped by 11c to $76.55. Both benchmarks fell between 4% and 5% over the previous two days.
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Housing market sentiment is nearing all-time lows. Fannie Mae's Home Purchasing Sentiment...
Housing market sentiment is nearing all-time lows. Fannie Mae's Home Purchasing Sentiment Index dropped this week while mortgage rates moved higher. Here's what you want to know.
