Thread: G.M. to Cut 10,000 Salaried Workers

Is this how the bailout money is keeping jobs?







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February 11, 2009
G.M. to Cut 10,000 Salaried Workers
By NICK BUNKLEY
DETROIT — General Motors, which must submit a satisfactory restructuring plan to the government next week to keep billions of dollars in loans, said Tuesday that it would lay off 10,000 salaried workers worldwide this year and reduce pay for those who remain by as much as 10 percent.

The announcement comes a week after G.M. extended more buyout and early retirement offers to its hourly work force and three months after it shed 5,100 salaried jobs, also through buyouts.

This time, however, the cuts are being made through layoffs rather than voluntary programs because the government loan terms prevent G.M. from using money from its overfunded pension fund to pay for buyout packages, as it has previously.

“There may be some opportunities for people to volunteer, but they’re essentially involuntary,â€

Meanwhile GM is spending all of the bail out money the American taxpayer's gave them in Brazil where labor is cheap and taxes are low. Shows who they care about doesn't it?

I know one thing, I will never purchase anything GM makes.