US: GM looks to reduce US$26bn in pension obligations

General Motors plans to cut its pension obligation in the US by US$26bn by offering lump-sum buyouts to 42,000 salaried retirees and surviving beneficiaries in the US. It will also offer other retirees a continued monthly pension payment administered and paid by The Prudential Insurance Company of America. GM expects to Subscribe to Automotive World … Continued

• By Webmaster
• June 4, 2012