GM to cut 4k more jobs
Published: Jun 25, 2009
Global - 4,000 more white-collar workers at General Motors are expected to lose their jobs by the end of the year, as the troubled automaker continues to downsize.
The company notified its more than 27,000 white collar workers by email that it will offer standard severance packages, while employees near retirement age will have the opportunity to retire early, spokesperson Tom Wilkinson told local newspapers.
He added that some involuntary cuts will be inevitable, as the company aims to shrink its US salaried workforce to around 23,500 by year's end. The cuts will be made based on performance, skills and length of service, Wilkinson said.
The flagging automaker has received approximately US$20 billion in loans from the US government. Wilkinson said the Treasury Department, which will oversee the auto industry's restructuring process, has approved the retirement offers and severance packages.
GM previously reduced its salaried workforce by more than 2,000 this year.
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