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March 28, 2006
GM to Begin Cutting White Collar Staff
General Motors is expected to start cutting thousands of salaried workers today as part of their massive restructuring plan. The cuts are expected to come from the engineering division with sales and marketing staff reductions coming in April.
The job cuts were announced in November, GM said it would let layoff 7% of its 36,000 white-collar U.S. employees this year.
The world’s largest automaker lost $10.6 billion in 2005 and has already reached a deal with the United Auto Workers union (UAW) that would slash its health care costs by $1 billion a year.
GM last week reached a deal with the UAW to offer more than 100,000 early retirement packages to hourly workers as part of a plan to lop off 30,000 jobs and close 12 plants through 2008.
Posted by Frank at March 28, 2006 5:23 AM | Filed under Auto News
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