DETROIT – About 5,000 white-collar workers at General Motors opted to participate in a buyout program that was announced last month to lower the automaker's global headcount and fixed costs.

GM CFO Paul Jacobson said Tuesday the automaker expects to take a roughly $1 billion charge during the quarter as a result of the program. The headcount reduction was part of the company's plans to cut $2 billion in  structural costs over the next two years.

This is a developing story. Please check back for additional updates.

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