General Motors Co. on Thursday said it would begin a voluntary separation program for eligible employees, the latest in a series of auto-industry cuts as car companies coming off a period of robust profitability prepare for an economic downturn.
GM said in a securities filing that it would offer lump-sum payments and other compensation based on years of service to the eligible employees under the program, which the Detroit company said is aimed at accelerating its normal attrition process.
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