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GM: No more big buyouts coming

November 6, 2009

GM: No more big buyouts coming

Some hourly workers on layoff may go, CEO says


Despite being short of its U.S. hourly job-cutting goal for 2009, General Motors Co. is not planning another big round of buyout packages, the automaker’s top executive indicated Thursday.

Rather, some of the 6,000 to 7,000 hourly workers on layoff could be permanently let go under the terms of the UAW labor deal agreement, while others could be called back to work as production ramps up.

"We don’t have any plans to have a broad attrition plan," said Fritz Henderson, GM’s chief executive officer.

The company has already cut its U.S. hourly ranks by about 13,000 — about 9,200 short of its goal for the year under its turnaround plan.

Nevertheless, Henderson said GM is outperforming in its restructuring.

Buoyed by positive signs, GM decided to keep its German-based Opel division. Henderson said some of the U.S. government aid to keep GM alive could go to help restructure Opel.

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