GM’s Henderson: No more plans for buyouts

Posted on Thursday, November 5th, 2009 at 5:06 PM EST.

General Motors Co. isn’t planning on another big round of buyouts to meet 2009 U.S. hourly headcount reduction goals, CEO Fritz Henderson indicated today, the Detroit Free Press reported. He called it unnecessary, the paper said.

Part of this is because GM expects some laid-off workers to be called back to work as production ramps up and part of it is because the company is going to permanently let go workers on layoff status, the Free Press said. “We don’t have any plans to have a broad attrition plan… I am reticent to do it because that would be basically … using it as a sledgehammer,” he told reporters. “That’s not what we need. What we really need to do is get our production up and running.”

He added that an attrition program might be targeted at specific facilities, the paper said. Between 6,000 to 7,000 hourly workers are on permanent or temporary layoff status, he told reporters, the story said. (Detroit Free Press)

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