General Motors is offering voluntary buyouts to 18,000 salaried workers, acknowledging Wednesday that if it does not get enough takers, it may consider layoffs in early 2019.
Shortly after reporting better-than-expected third-quarter earnings, GM CEO Mary Barra notified employees in an email.
GM salaried workers in North America with at least 12 years of experience are eligible, spokesman Pat Morrissey said.
The move is part of GM’s cost-cutting plans, which include a $6.5 billion target for 2018. The savings from the job cuts will not benefit GM until 2019, Morrissey said.
GM, which reported good third-quarter results, will continue recruiting and hiring workers needed for next-generation transportation, Morrissey said.