Offer voluntary buyouts!!!
From the article:
U.S. employees who are approved for the buyout will be granted one-month pay for every year they worked up to 12 months, as well as COBRA health coverage. They also will receive prorated team performance bonuses and outplacement services. Global employees will receive base salary, incentives, COBRA and outplacement services.
https://www.cnbc.com/2023/03/09/gm-buyouts-us-salaried-workers.html
Why would they do that? Have you seen GMs stock price since this news came out? Not only is it hurting their production, it’s hurting their current employee’s retirement plans, along with their stock vested employees. Keep sipping the euphoria juice
they could make it to where you submit your willingness to be laid off with a package, no guarantee , then they can decide from that and keep a list around for the next time.
GM also had to file for bankruptcy due to unions.
The biggest failure of WF is not valuing its employees. Imagine 200k+ employees showing up every day not sure where True North is. Oh wait.
If only. GM actually cares about it’s workers (labor unions ARE good for something). Wells Fargo only cares about trickling profits up to the top of their corporate pyramid scheme while the rest of us eat cake.
They will never do this because they know the likelihood of losing the best and brightest is high. Also too many people would take them up on it. The brain drain would be too great.