How can General Motors be letting workers go while making big profits?
How can General Motors be letting workers go while making big profits?
DETROIT (AP) — GM is offering buyouts to skilled trades workers estimating it has 2,000 more skilled trades workers than it needs right now. These workers do jobs that need special training, like electrical work and welding.
GM plans to hire 1,000 engineers and researchers over the next two years to work on the next generation of electric vehicles. The company will pay eligible employees $ 60,000 to retire with full benefits. Younger workers will have the option to take the $ 60,000 in exchange for giving up retiree health care and other benefits.
How can GM need 2,000 less people to make vehicles if they claim they’re selling more vehicles than they have since 2004? Between April-June 2010 GM posted a net profit of 1.3 billion on revenues of $ 33.2 billion. I understand that they need to work on new technology and add people with those skills but to give younger workers only $ 60,000 and no benefits to “retire” just before Christmas is disgusting.
We bailed this company out and I just don’t understand how they’re claiming to be doing so great while throwing more people into the unemployment line. Why can’t they train the skilled workers to be a part of the process of creating electric cars or keep them on the payroll until they’re needed to get back on the assembly line and make the new electric cars?
My point is didn’t we bail them out to keep people working? Why does GM get to screw their employees over because GM is way behind on electric car technology?
Best answer:
Answer by The Moth lives
60k plus full retirement, no wonder they went borke before, I bet they are broke again in a few years.
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I think it’s great.
GM - for a while - forgot that they were suppose to make profits. (psssstttt - That’s why a business exists)
They have to honor all those crappy deals GM was forced into - by the unions where retired workers still draw most if not all their salary.
Sure… it’s a great deal for the WORKERS… at the expense of the future of the company.
They are not making as many models as they were in the past. Many of their sales were getting rid of their inventory. Going forward they will be a leaner company, and they will continue to make a profit. But the 1000 Engineers that they are adding will be helpful in making the vehicles more fuel efficient. They also plan to employ Green Technology in their vehicles.
Behind on electric car technology? They have one of the two full electric cars going to market in the next month or two.
But I digress, does this really surprise anyone? They will take their newly “made” profits, and build a shinny new factory, three miles across the US/Mexico border, and make a killing on 40,000 dollar cars, put together by people making 2 dollars an hour, just like before we bailed them out.
Look at these answers for Christs Sake. I guess only the pricks in suits and ties in the head office are allowed to make a great living. A whole 60g a year, pension after breaking your ass with actual WORK for 20 years, meanwhile the douche bags pushing giant gas sucking vehicles during record high oil prices walk away with millions in severance and a bankrupt company. Yeah it was the Unions telling GM to build a 10 MPG Hummer during and energy crisis. It was the Unions telling GM to build 2 of the same car(Chevy Suburban/GMC Yukon), with different brand names, and charging the same price for them. I’m sure it was the Unions idea to cannibalize it’s own company.
What you fail to realize, labor unions have sucked the life out of the auto industry for dozens of years, trying to compete with foreign auto makers has been impossible.
GM is making hard decisions to survive in the long term, labor is and will always be their “Achilles heal”.
Labor unions have been screwing the nation for many, many years, your complaint is not taking the big picture into context.
They don’t just need bodies, they need the bodies to have a specialized skill set. GM is not screwing anyone.