GM slashing over 1K salaried jobs at software, service units
General Motors said Monday it was laying off more than 1,000 full-time employees across its software and services divisions around the world. GM confirmed the job cuts, first reported by CNBC, in a statement saying, “As we build GM’s future, we need to simplify for speed and excellence, make bold choices and prioritize investments that […]
New Biden rule extends overtime to millions of salaried workers
The Biden administration on Tuesday announced rules aimed at ensuring that workers making less than about $59,000 a year are fairly compensated for overtime. The Ministry of Labor said: The rule would raise the salary threshold necessary to exempt salaried workers from federal overtime pay requirements. The office announced that starting in July of this […]
Target doubling bonuses for salaried employees: report
Target will reportedly double bonuses for salaried employees this year in a show of financial strength, despite a tough year for the retailer, which reported declines in store traffic and same-store sales for the first time since before the pandemic. There is. Target plans to pay employees 100% of their eligible bonuses in 2023, an […]
GM requiring salaried workers return to office starting in January
President Biden said in a speech in San Diego on Friday that General Motors is committed to going “all-electric by 3035.” General Motors has promised to provide “more clarity” next month about the company’s three-day return-to-office policy. “To meet critical business needs and maintain our company culture, hybrid employees are required to be in the […]
Stellantis offers buyouts to roughly half of US salaried employees
Former Atlanta Fed President Dennis Lockhart also joined “Morning with Maria” to discuss the October jobs report and its impact on the U.S. economy. Stellantis is one of them. Big 3 US automakerson Monday offered buyouts to about half of its salaried employees to defray increased costs from new union contracts in an effort to […]
Ford to ax at least 1,000 contract, salaried workers
Ford Motor Co. is reportedly planning to lay off at least 1,000 salaried and contract workers to offset the cost of investing in the electric vehicle market. At an internal meeting on Monday, North America-based office workers were informed of the impending job cuts, a person familiar with the matter said, which is expected to […]
Ford to announce another round of layoffs, hitting salaried workers: report
Ford Motor Co. is preparing to cut jobs again in the coming weeks. source of information Said A series of layoffs is expected to hit US office workers, The Wall Street Journal reported on Thursday. The job cuts are expected to affect employees working in Ford’s electric vehicle (EV) and software divisions as well as […]
GM offers salaried workers voluntary buyouts — to reduce ‘structured costs’
On Thursday, General Motors announced that it will offer most of it. Opportunity for voluntary takeovers for salaried workers This includes up to 12 months of retirement benefits. Detroit automaker layoff plan expands ‘voluntary retirement program’ to everyone US office worker At least 5 years of service, with all Global Executives at least 2 years […]
GM offers salaried employee buyouts, sees up to $1.5B charge
General Motors said Thursday that it is proposing the acquisition to most of its office workers and global executives and expects pre-tax expenses of up to $1.5 billion to cover the costs. The announcement comes as layoffs by U.S. companies in the past two months hit the highest since 2009, with the tech sector accounting […]
GM offering buyouts to most salaried workers in US to cut costs
DETROIT (AP) — General Motors is offering acquisitions to most of its U.S. salaried workers and some global executives to cut costs as it transitions to electric vehicles. The Detroit automaker did not disclose how many workers will be targeted, but the move will accelerate the reduction to meet its previously announced target of $2 […]
