To try to stem automotive losses that have dogged the company since 2005, the company is making a range of offers, up to cash payments of $140,000 to the remaining 74,000 GM workers represented by the United Auto Workers union.

Does my sentence below can have about the same meaning?

To try to get rid of automotive losses that have caused difficulties to the company since 2205.

Hi LiJ,

I think you understand it correctly. However, 'get rid of'' is not the right phrase to use. To stem here means to stop.
Got it! Thanks, HT.