About 5,000 General Motors Co salaried workers took buyouts to leave the company, putting the company well on the way to hitting a $2 billion cost-cutting target, the automaker's chief financial officer said Tuesday.
salaried workers took buyouts to leave the company, putting the company well on the way to hitting a $2 billion cost-cutting target, the automaker's chief financial officer said Tuesday.
GM will cut production to keep inventories in check, Jacobson said. The automaker earlier this year shut down a pickup truck assembly factory in Fort Wayne, Indiana, for two weeks. Jacobson said GM is now allocating 75% of its annual capital spending toward electric vehicle projects, which in the short term will be less profitable than the automaker's combustion vehicles.
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