General Motors Company said that it plans to cut 1,000 salaried jobs by the end of this month as a part of a previously announced plan to cut costs by reducing white-collar jobs. In June, GM announced that it would cut an additional 4,000 salaried jobs by the end of 2009.
Spokesman Tom Wilkinson said that about 1,900 employees took the voluntary packages offered earlier this year. Another 1,100 reductions are expected to come through voluntary buyouts, retirements and possibly some involuntary terminations.
The buyout packages include pay and benefits for up to six months for managers and one year for top-level executives.
– By: Stephen Calogera
Source: Free Press