GM proposes Brazil workforce reduction through buyouts, union says

SAO PAULO (Reuters) - General Motors (NYSE: GM) is offering buyouts to some of its Brazilian workers, a local union said on Wednesday, as the country's No. 1 automaker struggles with the fallout from the coronavirus crisis.

The union said GM also plans to extend furloughs meant to end in September by two more months. The union has yet to vote on the buyout program, but GM said it wants to offer it to all employees.

(Reporting by Marcelo Rochabrun; Editing by Chizu Nomiyama)

You May Also Be Interested In

• US equity funds record nine-month high outflows as oil stokes inflation fears
• S&P 500 above 8,000 in 2026 now looks ambitious, Citi says
• JPMorgan cautious on Hims & Hers on GLP-1 transition risk