Via CNN:

GM spokesman Tony Sapienza confirmed that the automaker is offering buyout to all of its 62,000 unionized hourly employees. The company would like to see anyone eligible to take part in the program, the spokesman said. However, its main focus is on 22,000 retirement-eligible hourly workers.
The announcement was made today. Sapienza says staff will receive specific details about the package on Friday, but the offer will consist of a car voucher and a one-time cash payment. Employees will have until March 24 to make a decision. The buyouts will be complete by April 1.
Sapienza said GM is looking to “completely transform” its workforce. The program will save the automaker layoff costs as well as future operating costs, by allowing it sometime in the future to hire new workers at a lower pay level.