GM Cutting 10,000 Jobs; Reducing Salaries
Tuesday, February 10, 2009 9:10General Motors has announced that it will cut 10,000 jobs, or 12% of it’s global work force.
The majority of the U.S. job cuts is set to take place before May 1. The remaining GM workers are likely to see a 3% to 7% reduction in pay for the rest of the year.
GM has received billions in bailout money sponsored by the US taxpayer. The company recently came under criticism for announcing a $1 billion investment in Brazil.
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Kim says:
February 10th, 2009 at 10:13 am
I’ll bet they’re not cutting their job force IN BRAZIL.