GM spokesman Tony Sapienza said the buyouts will mainly target GM's 22,000 retirement-eligible hourly employees, though any union employee can take the offer.
GM employees were notified of the buyouts on Tuesday. Sapienza says the offer will consist of a car voucher and a one-time cash payment. He says employees will receive more specific details on Friday, and says the offer will be less generous than previous buyouts.
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He says employees will have until March 24 to make a decision. The buyouts will be complete by April 1.
Detroit-based GM is scheduled to report January auto sales later Tuesday.