GM offers buyouts to 18K workers after posting strong profit

DETROIT — As General Motors reported a healthy $2.5 billion third-quarter profit, the Detroit automaker ramped up its cost-cutting efforts by offering buyouts to 18,000 white-collar workers.

The company, while acknowledging it's in good shape now, said Wednesday it needs to be smaller to prepare for tougher times that might be ahead as it continues to get ready for a future of electric and autonomous vehicles.

http://www.startribune.com/rising-prices-margins-drive-gm-s-third-quarter/499130321/