General Motors announces elimination of 10,000 workers.
Chicago, IL (JusticeNewsFlash.com)–General Motors (GM) made a worldwide announcement Tuesday morning according to CNN. The Fortune 500, U.S. automaker states it is cutting 10,000 employees worldwide with one-third of the jobs eliminated affecting American workers. This equates to a 14% reduction in the troubled automakers salaried staff.
GM received $9.4 billion in federal loans at the end of 2008 and expects to receive another $4 billion in federal taxpayers dollars after the big auto company submits their plan to the United States Treasury Department. The American automobile manufacturer also says it will cut the pay of its remaining salaried employees in the U.S. The nation’s largest automaker claims most of the workers affected are white-collar and will receive severance payments, benefit contributions and outplacement assistance.
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