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About 5K GM salaried workers take buyouts, avoiding layoffs

DETROIT, MI (AP)— About 5,000 white-collar workers at General Motors have taken the company’s buyout offers, which the automaker says is enough to avoid layoffs at this time.

GM said in a statement Tuesday that the offers will save about $1 billion per year in costs—about half of the $2 billion it wants to cut annually by the end of 2024. The company now has about 58,000 salaried workers in the U.S.

Last month, GM offered buyouts to white-collar workers with at least five years of service and global executives who have been with the company at least two years.

The offers come as the auto industry is in the midst of a transition from internal combustion to electric vehicles.

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