GM outsources pensions, offers lump-sum buyouts

GM says it will offer pension buyouts to thousands of salaried workers, similar to an earlier move by Ford Motor, and is freezing the value of the existing pensions later this year.

Some 42,000 salaried GM workers, retirees and surviving spouses, out of 118,000 potentially eligible, will be offered the option of taking a lump-sum buyout instead of monthly pension payments.

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