GM July 2009 sales down 19%, 6,000 workers take buyout offers

General Motors Company today posted a 19 percent drop in U.S. sales for July from the same period during 2008 – which is an improvement over declines of about 35 percent through the first half of 2009.

Separately, GM announced that 6,000 workers took buyout offers ever since the company emerged from bankruptcy on July 10. The Detroit automaker said that it plans to cut another 7,500 workers by the end of 2009. Spokesperson Sherrie Childers Arb said that the company does not plan to offer a new round of buyouts and will look to proceed with cuts through layoffs or by transferring workers into other open positions.

GM said that the latest round of buyouts brought the total number of U.S. factory workers to 48,000 – down drastically from about 114,000 only 3 years ago. GM has plans to reduce its hourly U.S. employment to 40,500 by the end of 2009.

– By: Omar Rana

Source: Reuters