General Motors cuts 10,000 jobs
Tuesday 10th February 2009, 3:31PM GMT.
Stricken US carmaker General Motors has announced a 14 per cent reduction in its global workforce, amounting to 10,000 job losses.
GM said the number of salaried posts would be reduced to 63,000 in 2009, with workers losing their jobs from the beginning of May onwards.
The announcement comes before a deadline for a restructuring plan to be submitted to Congress on February 17th.
The roughly 28,000 workers who will keep their jobs in the US are expected to see their pay cut by between three and ten per cent for the remaining year.
American executive pay meanwhile is expected to be cut by up to seven per cent.
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