A couple months ago, General Motors proclaimed its plan to cut business costs without engaging in layoffs. However, the company recently announced its voluntary separation program, in which it is seeking eligible employees to leave the company in return for a lump sum payment and severance based on the length of their employment at GM. This workforce reduction plan comes in the wake of job cuts that were made earlier this month. As the company works to shift to electric vehicle production, it is looking to reduce labor costs to balance the upfront investment of such a project.
See "Rather than layoffs, GM offers some employees a voluntary separation program and payout in order to reduce labor costs ", Jordan Valinsky , CNN Business, March 9, 2023