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GM Cutting 4,000 White Collar Jobs By End Of Year
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General Motors has notified its U.S. white-collar workers that it plans to cut about 4,000 more jobs by the end of the year.
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AP |
Company spokesman Tom Wilkinson says workers on Tuesday were offered standard severance packages as well as chances to retire early if they're near retirement age. But he said some departures will be involuntary.
GM [GMGMQ
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] already has cut about 2,600 salaried jobs this year. It plans to reduce its salaried work force from just over 27,000 to 23,500 by Dec. 31.
The Detroit automaker is in Chapter 11 bankruptcy protection and has received about $20 billion in government loans.
GM Chief Executive Fritz Henderson has said that more salaried jobs will need to go. The company said in February it would eliminate 10,000 of 73,000 salaried jobs from its international work force.
The auto maker is also cutting its executive ranks by 34 percent. GM also has eliminated thousands of hourly jobs.
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