Thread:

GM to offer buyouts to ALL hourly employees

Originally Posted by Wet Dream

How much worse can that stock get?

Its around $3 now and it can go to pennies. XMSR did that

It could be a good thing...
If those who except have anything left in their retirement. Not a bad idea to buy out the ones who are eligible for retirement, rather than putting the 35yr old with 2 kids, a stay at home mom and a mortgage payment in the unemployment line.

Originally Posted by RvRrat

Basic business 101

If you're sinking, unload the labor. Payroll is usually the biggest expense and the quickest was to cut costs. Hopefully it isn't too late for GM. Sad for those who may lose their jobs, but the alternative is to take down GM. I'm guessing tons of people will leave.

If our gov't & States knew this basic rule, we wouldn't be in this hole. But instead what does the gov't do? hire more people and spend more money. Makes total sense...if you're an idiot.

Perfect! LOL!

Originally Posted by rIVERtRASH

It could be a good thing...
If those who except have anything left in their retirement. Not a bad idea to buy out the ones who are eligible for retirement, rather than putting the 35yr old with 2 kids, a stay at home mom and a mortgage payment in the unemployment line.

Veiw it as a bribe to quit the union and come back to work at a lower wage - Their is no retirement lol . G.m is cutting the fat and its costing them money !

Originally Posted by Lucky

Veiw it as a bribe to quit the union and come back to work at a lower wage - Their is no retirement lol . G.m is cutting the fat and its costing them money !

I dont think many of their employess are in a postion to retire at this point. $20k and a new car isnt going to help either.

Originally Posted by rIVERtRASH

I dont think many of their employess are in a postion to retire at this point. $20k and a new car isnt going to help either.

Thats what i am saying they will take the money the car and come back to work in JUNE doing the same thing that they where - at less pay ( a fair wage) my .002

Originally Posted by Lucky

Thats what i am saying they will take the money the car and come back to work in JUNE doing the same thing that they where - at less pay ( a fair wage) my .002

I doubt Gm would hire them back...

The jobs would be open to unexperianced applicants.

Nothing new here. The government money they got was intended for this very thing from the beginning. Also the approx. 22K employees being offered the package are "pension eligible" and the $20K is just an enhancement to move them out. It's far more economical to get these people off the clock asap as they are the highest scale in hourly labor costs. Probably among the least productive also.

Current new hires have a completely different pension structure and hire in for less money. This is a planned and positive step towards getting stabilized.