G M to Cut 10,000 Salaried Workers
13 Feb 09, 05:17pm
13 Feb 09, 05:17pm
General Motors Corp. on Tuesday announced that it would cut 10,000 salaried jobs, or 14 percent of its global work force, by the end of this year.
In its plan to Congress submitted last year, GM said it would have to reduce both salaried and hourly positions so that the company could become viable long-term.
G.M. has received $9.4 billion in loans and expecting another $4 billion from the Government.
On Feb 17 General Motors has to submit a plan to describe how GM will return to profitability and more aid from the government will be based on that plan.
In its plan to Congress submitted last year, GM said it would have to reduce both salaried and hourly positions so that the company could become viable long-term.
G.M. has received $9.4 billion in loans and expecting another $4 billion from the Government.
On Feb 17 General Motors has to submit a plan to describe how GM will return to profitability and more aid from the government will be based on that plan.