One of our Best and Brightest forwarded GM’s letter to the white collar workers targeted for elimination (by October), along with a pdf of the Retirement Package [download here]:
Dear U.S. Classified Salaried Employees:
On June 1, Fritz Henderson shared the company’s plans to reduce an additional 4,000 salaried employees from our U.S. workforce. This news was particularly difficult to hear, considering we had just undergone a significant staffing reduction in May. We can assure you that these organizational restructuring and reduction decisions were made after serious deliberation and necessitated by the unprecedented business realities facing GM.
Right now, each function is reviewing their organizational structure and staffing to determine how best to achieve their targets while maintaining our focus on customers, technology, great cars and trucks, and respect for our employees. The majority of these reductions will be effective on October 1 and notifications will take place just prior to that date. We will continue to utilize the GM Severance Program (GMSP) to achieve the reductions, but we are pleased to share that employees meeting certain age and service criteria that are selected as part of this reduction in workforce will have an additional option to consider under a Salaried Retirement Program Window plan. The attached document contains complete details, but in general, employees who meet certain age and credited service criteria and are separated as part of the GMSP may elect one of two options:
·Option 1: Regular severance payments and normal voluntary retirement
· Option 2: A Window retirement with enhanced retirement provisionsEmployees who do not meet window eligibility or voluntary retirement criteria and are selected as part of the workforce reduction will be eligible for severance benefits under the GMSP. Additionally, employees interested in the GMSP, whether because of the severance payments or the enhanced retirement provisions, will be given an opportunity to formally express interest in the program to their leadership. If their expression of interest fits with the overall goal of the program as determined by their leadership, such employees will be able to work with their supervisor to determine an appropriate last day of work.
While these are difficult actions, we hope that the ability to provide a window retirement option to certain eligible employees will provide additional opportunities that some employees will find attractive. Should you have any questions after reading the attached document, we encourage you to talk with your local HR professional.
Thank you for your continued hard work during this most important time.
Troy Clarke Gay Tosch
President Vice President
GM North America GM North America Human Resources
Slashing and burning their way to greatness, just like GM has been doing for decades.
or one could say right-sizing the company that was bloated to fit a market that sells half as many cars and trucks.
Two thoughts:
(1) Which option package includes the chick in the pink dress?
(2) A man whose name sounds like “Gay Tosh” must have had very rough middle school years.
(1) Which option package includes the chick in the pink dress?
I think it’s called the “Divorce package”
I wonder how much those “enhanced retirement provisions” will be worth next year.
gay tosch is obviously a woman
females infest the ranks of HR
that model in the pink dress is something special
i’d almost buy a GM for some of that
that model in the pink dress is something special
Stacy Keibler, of pro wrasslin’ fame.
You’ll notice the fat guy in the Caddy stalking the very, very pretty model. Does this have significance?
The model looks like the walking Liberty on the old dollar coins. How appropriate for GM.
Additionally, employees interested in the GMSP, whether because of the severance payments or the enhanced retirement provisions, will be given an opportunity to formally express interest in the program to their leadership.
Or; If you’d like to jump from the sinking ship to save yourself, let your boss know. If we don’t like you too much, we’ll let you know when to pack your desk. It will be much easier than us actually having to pick people to let go.
Steve S has it right. The workforce has to match the size of the company. The lower end salary, and the hourly people have been slashed to the bone. Excuse me if I hold back the tears, cause the executive level is now on the chopping block.
My letter translated to layman terms was something like this.
Dear Mikey….If you don’t want to find yourself bolting fenders on Impalas,take the money and run.
3 months later you get a hand shake, and the CAW coughs up a cheap watch. The boss tells you what a great guy you are,and points you toward the door.
If you are eligible for this take the money and run. When GM gets liquidated in a couple of years you will get what is known in Bankruptcy Latin as bupkis.
Pro wrasselin’…really?
Does this thread have some auto content attached?
Just curious.
Bunter
Take whatever you can RIGHT NOW and walk away. It gets worse the longer you stay.
Stacy Keibler. Oh my god she close to being perfection if you like tall blondes with long legs and sufficient dual airbag protection.
What is it with the big 2.8 using women like this. Who’s the Mercury girl? Jane Wagner?
Take whatever you can RIGHT NOW and walk away. It gets worse the longer you stay.
Exactly. This is the main reason why I have no sympathy for the UAW, they should have jumped on the Packages offered in the 2005-06 time frame.