Raynal added that “By permanently bringing down structured costs, we can improve vehicle profitability and remain nimble in an increasingly competitive market.” Those words echo the sentiments expressed by General Motors CEO Mary Barra in an emailed memo to employees on Thursday.In the email, Barra points out that the buyouts are “designed to accelerate attrition in the U.S.
While the buyouts are voluntary for now, Barra did mention that “taking this step now will help avoid” in the future. Employees who take the buyout will get one month of pay for every year with the company for up to 12 months. In addition, they’ll continue to get COBRA health coverage along with prorated team performance bonuses and outplacement services.Global employees will get the same COBRA and outplacement services but also get a base salary and incentives.