Last month, GM announced a new buyout program in which it encouraged eligible employees to opt-in to the voluntary separation program as a means of lowering its fixed costs. Since then, nearly 5,000 workers have opted into the program, and the company hopes to be able to avoid layoffs as a result. This plan to induce attrition has been an effective method for GM to avoid involuntary layoffs only because enough workers are participating in the program.
See "Thousands of workers opt-in to GM's voluntary separation program, allowing company to avoid layoffs", Michael Wayland , CNBC, April 4, 2023