One day after Nissan said it will cut 20,000 jobs, GM announced it will slash 10,000 salaried workers worldwide. With the Feb. 17 deadline quickly approaching, GM must submit a viability plan to the Treasury Department showing how it will cut costs as part of the $13.4 billion loan package, reports the Detroit News.
Most of the 10,000 salaried job cuts will happen by May 1. About 3,400 of them will be in the U.S. Last week, GM offered its eligible hourly workers $25,000 vouchers to buy a new GM vehicle and $20,000 in cash. GM has 73,000 salaried workers worldwide.
Although GM is on very shaky ground, the automaker is offering fantastic deals right now on its vehicles. It could be a perfect time to buy if you’re a GM fan.
This round of cuts will affect salaried workers at GM. Hourly workers are being offered buyout deals.