After reporting solid third quarter earnings, General Motors said it'll offer buyouts to some of its North American employees.
A GM spokesperson told media outlets that the company announced a severance package to staff Wednesday.
Salaried employees who've been with the company for 12 years or more can volunteer to leave their jobs in exchange for the buyout. Around 18,000 workers are eligible. Other details about the offer haven't been publicly disclosed.
The job cuts are meant to reduce costs and allow the Detroit automaker to pursue new technologies, like autonomous vehicles. GM has launched a self-driving car unit, Cruise, and is partnering with Honda on other self-driving initiatives.
So far, no word of any plans to offer buyouts for its factory workers. That would involve a collective bargaining agreement with the United Auto Workers union.
Additional reporting from Newsy affiliate CNN.
