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General Motors will offer voluntary buyouts to a “majority” of its 58,000 U.S. white-collar employees, as it aims to cut $2 billion in structural costs over the next two years, according to a ...
GM declined to disclose the entire number of layoffs, but a source familiar with the action confirmed more than 1,000 salaried employees would be laid off, including 600 in Warren, Michigan ...
A once-reliable route to prosperity appears to be vanishing, as evidenced by General Motors' announcement this week that it plans to shed 14,000 jobs. Salaried workers beware: GM cuts are a ...
The 2009 General Motors Chapter 11 sale of the assets of automobile manufacturer General Motors and some of its ... GM was bound to pay $10 billion to the VEBA trust ...
General Motors cut a total of about 1,000 salaried and hourly employees early Friday morning as part of the new salaried employee ranking system as well as a "normal course of business" to achieve ...
June 19, 2009: Deadline for filing all objections to the sale of General Motors. June 22, 2009: Deadline for making competing bids in the auction of General Motors' assets. June 25, 2009: Final hearing on the bankruptcy loan. July 10, 2009: Deadline for completion of the sale, requested by the U.S. Treasury and General Motors. [9] [10]
$16.6 billion of this would go to General Motors, while Chrysler would take $5 billion. General Motors agreed to shed 47,000 jobs, close five plants, and axe 12 car models. Chrysler agreed to cut 3,000 jobs, cut one shift from production, and axe three car models. [83] General Motors was also looking to sell its Swedish subsidiary, Saab.
If General Motors is having any problems, it’s in its nonunion operations in China, where it lost $137 million in the quarter, compared to the $192 million profit it made there a year earlier.