GM Offers 18,000 Salaried Employees A Buyout

[Bbaaspencer]

I have already seen this many times at the OEM companies I worked for in the last 5 years. They offer buyouts, then backfill with contract employees. They don't have to pay retirement or medical insurance. 

[Sierra Dan]

On ‎11‎/‎3‎/‎2018 at 10:00 AM, KARNUT said:

As long as people buy SUVs and trucks GM will be fine. When every other month is truck month with discounts up to 25 percent. GM still pulls a hefty profit.


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This trend will come to and end just like it did back in '08-'10 when gas jumps up.

Consumers will realize they do not NEED an SUV or a Truck for daily commuting.

[KARNUT]

This trend will come to and end just like it did back in '08-'10 when gas jumps up.
Consumers will realize they do not NEED an SUV or a Truck for daily commuting.

It didn’t take me long after retirement. I started to have to pay for gas for the first time in 35 years. 35 mile per gallon cars look pretty good.


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[Sierra Dan]

22 minutes ago, KARNUT said:

It didn’t take me long after retirement. I started to have to pay for gas for the first time in 35 years. 35 mile per gallon cars look pretty good.


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Amen!

[Doug_Scott]

1 hour ago, Sierra Dan said:

This trend will come to and end just like it did back in '08-'10 when gas jumps up.

Consumers will realize they do not NEED an SUV or a Truck for daily commuting.

It was the slump in the housing market that killed truck sales back in 08/09.  I remember thinking that I would never have linked the two until it happened. 

['91 Formula]

This will become more and popular with ALL publicly traded companies.

 

Someone in finance comes up with spreadsheet that shows how much money the corporation will be saving, so the stock holder will get more in their pockets,  if they supplant older higher salaried employees with ones just coming out of college. The higher ups in corporations do not care about experienced employees efficiently keeping their product moving out the door. Its all about reducing the overhead to make more money for its share holders.

 

I was recently part of a layoff from a position which I had for 31yrs. from a military electronics company.They were recently purchased by a publicly traded military/aerospace components monopoly. They purchase smaller companies who manufacture non-standard OEM or aftermarket components, so they can set what ever price they want. First thing they do is raise product prices 20%, then every year after reduce the workforce until its 50% lower. They currently own about 27 different companies.

 

I had knowledge of products that no one there will ever know what to do with. My coworkers always said they don't know how anything would ever get completed if I were not there. Well, they are trying to figure it out now. 

 

BTW, GM stock price is around $35, $40 a share. The company I worked for is about $350 a share. There are people in this company hitting the lottery every year.

[wforrest08]

4 hours ago, '91 Formula said:

This will become more and popular with ALL publicly traded companies.

The word isn’t will it’s HAS. 

I work for a Class one railroad luckily as a blue collar Union member, on the non Union side of things it’s the same thing the bean counters are running the show. In fact the CEO of the company has flat out said multiple times that shareholders are number one, then customer service, then employees PROFITS before all else. They did a voluntary buyout couple years ago with the corporate management, said they were “top heavy” needed to make a change the smart ones took the buyout the ones that didn’t still got escorted off the property. Restructured the management benefits and retirement plan starting at the first of 018 for new management hired and restructured the existing lower/middle management an example is the entry level manager job title went from Manager to Supervisor supervisors don’t get retirement. Supposedly they spent 2.sum million to a consulting firm to come up with this plan. Won’t put any money into infrastructure, equipment, ect. Keep finding ways to cut or not fill vacant jobs across all departments/crafts less people doing the same amount of work for the same money cause NO OVERTIME for hourly employees ect. Yet the whole time the CEOs income last year with all compensation including stock options comes out to $37,000 per hour 24/7/365...

 

 

[pronstar]

The CEO (and the board if it has one) of any publicly traded company has a fiduciary responsibility to the company itself (profits), and shareholder (stock valuation and/or dividends).

 

There’s no fiduciary responsibility to keep employees happy. Or to keep them employed.

 

It’s capitalism, and it is what it is.

 

 

And stock valuations can’t really be used to compare companies, unless we also look at the number of shares outstanding.

 

A company with a stock price of $350 isn’t necessarily worth 10x what a company with a stock price of $35, because we have no idea how many shares we’re talking about.

 

Stock price x shares outstanding = company valuation

 

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