GM to Cut More Jobs

By: Associated Press
By: Associated Press

Detroit, MI (AP) -- General Motors plans to cut 15 percent of its U.S. and Canadian salaried work force -- or around 5,100 jobs -- by Nov. 1st as part of a plan to slash billions of dollars in costs and help the automaker ride out a slump in U.S. sales.

The company said earlier this week that it will cut the second shift at its Moraine, Ohio, SUV plant in two months, putting 1,000 employees out of work.

A GM official declined to confirm the specific numbers Wednesday but indicated they were generally accurate. Word of the cuts came two days before gm plans to release its second-quarter earnings.

GM already has announced a $15 billion cost-cutting and cash-raising plan after its shares hit a 54-year low.

The automaker says it planned to cut thousands of salaried and hourly jobs, sell assets, suspend its dividend and eliminate health care for salaried retirees over age 65.

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