Nearly 7,500 Employees Agree to Voluntarily Leave General Motors

Following this week's announcement that General Motors will debut a job cutting schedule to reduce workforce and get back on track, nearly 7,500 employees agreed to voluntarily leave the company and receive $20,000 in cash and a $25,000 car voucher. As we told you earlier this week, the American ailing company plans to cut workforce by 3,400 white-collars in the next few months, 18,000 blue-collar workers by the end of the year and 47,000 jobs worldwide.

GM's attrition program is apparently fairly appealing for the company's employees as no less than 7,500 workers agreed to leave the automaker no later than April 1, 2009.

“These employees have many years of dedicated service to General Motors and I’d like to personally thank them for all they have done for the company,” said Gary Cowger, Group Vice President Global Manufacturing and Labor Relations.

“This is another example of GM’s commitment to execute our Viability Plan. There is still much to do, but the Special Attrition Program, along with the many difficult but necessary actions we have taken in recent months will help ensure the long-term viability and future success of General Motors.”

This isn't the first attrition program started by General Motors, as the company first attempted to voluntarily reduce workforce in 2006. The so-called Special Attrition Program convinced no less than 34,000 hourly employees to leave the company, followed by another 19,000 workers in 2008. Today's announcement brings the total figures to more than 60,500 employees.

Chrysler has also proposed a similar deal to its employees, offering a choice of a $75,000 cash buyout and a $25,000 voucher to buy a car to leave the company. First figures are expected to be released today.