News for hackers. Stuff that matters.

A comment on GM to lay off 4,250 salaried workers in North America starting Monday. Parent comment

Re:GM to lay off 4,250 salaried workers in North America sta... by pacerwpg on Monday February 04, 2019 @12:21PM (#19078273)
Pension costs are not unknowable - that sounds like a failure to plan for future costs.
[ Parent | on HN ]
Re:GM to lay off 4,250 salaried workers in North America sta... by mimixco on Monday February 04, 2019 @12:46PM (#19078596)
It wasn't a matter of not knowing them. They knew. They were negotiated by the unions. It was a matter of not having enough money to pay them. GM simply cannot sell cars at market prices and also pay all the pensions and higher wages that the union demands. It's not workable.
[ Parent | on HN ]
Re:GM to lay off 4,250 salaried workers in North America sta... by toomuchtodo on Monday February 04, 2019 @04:15PM (#19080712)
It could’ve funded the pension fund instead of performing share buybacks, no?

It can’t be said they didn’t have that $10 billion. They had it.

[ Parent | on HN ]