GM says 12,600 white-collar retirees to take lump-sum buyouts

Newswire

By Deepa Seetharaman DETROIT, Oct 31 (Reuters) - Around 12,600 white-collar retirees of General Motors Co have agreed to accept lump-sum payments in lieu of monthly pension checks from the largest U.S. automaker. The buyouts will help cut $29 billion, or about one-fifth, from GM's $134 billion global pension obligation, GM said on Wednesday in a statement accompanying its third-quarter results. That is $3 billion better than GM projected when it ...

Premium Content (PAID Subscription Required)

"GM says 12,600 white-collar retirees to take lump-sum buyouts" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  Hundreds of downloadable data tables including:
  •   Global sales and production data by country
  •   U.S. model-line inventory data
  •   Engine and equipment installation rates
  •   WardsAuto's North America Plant by Platform forecast
  •   Product Cycle chart
  •   Interrelationships among major OEMs
  •   Medium- and heavy-duty truck volumes
   •  Historical data and much more!


For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: lwilliamson@wardsauto.com or phone: (248) 799-2642
 

Current subscribers, please login or CLICK for support information.

Already registered? here.
Insights

Feb 10, 2016
Video
WardsAuto

GM 3.6L V-6 -- 2016 Award Acceptance

General Motors accepts its award at the 2016 Wards 10 Best Engines ceremony, held Jan. 13 in Detroit....More

Enewsletters

Follow Us

Sponsored Introduction Continue on to (or wait seconds) ×