GM: 12 percent workers taking buyouts

General Motors Corp. said Thursday that 195 union workers at its Shreveport assembly plant accepted a buyout from the financially troubled auto giant.

The workers are among 7,500 workers nationwide who decided to take the deal, GM said. That represents about 12 percent of GM’s hourly work force represented by the United Auto Workers.

GM offered $20,000 cash and a $25,000 voucher to buy a car to all of its 62,400 hourly U.S. employees as part of an effort to further trim its blue-collar payroll.

Source: AP, Forbes

GM to cut 47,000 jobs, close five more plants

General Motors Corp. plans to cut its work force by 47,000 this year and close five more U.S. plants under a viability plan it submitted to the U.S. Treasury on Tuesday as part of its effort to land between $9 billion and $12 billion more in federal loans.

The five plants the struggling automaker plans to close are in addition to the nine plants it previously said it planned to shutter.

GM also plans to reduce its dealerships from 6,246 in 2008 to 4,700 by 2012, and to 4,100 by 2014. Most of this reduction will take place in metro and suburban markets, GM said.

Source: Dayton Business Journal

GM To Cut Another 10,000 Salaried Jobs This Year

According to CNNMoney: “General Motors Corp. (GM) will cut 10,000 jobs worldwide, or 14% of its salaried work force, as downsizing underway for years in the U.S. spreads around the globe.”

“Some 3,400 U.S. workers, or 12% of GM’s U.S. salaried work force, will be shed as part of the reduction. Most of those remaining will see a 3% to 7% pay cut on that date through year-end, while executives will get a 10% reduction.”

~News submitted by upthecreek

GM may cut thousands of salaried workers

According to Bloomberg, Reuters: “General Motors Corp. (GM.N) is developing a plan to fire up to 5,000 salaried employees as it tries to cut costs by a March 31 deadline to keep $13.4 billion in U.S. government aid. The total could match the number of salaried positions GM slashed in 2008. The company will include the plan in a Feb. 17 progress report to the U.S. government”

GM to Cut Output at Four Factories; 2,000 Affected

According to Bloomberg: “General Motors Corp., running out of cash and combating a 22 percent plunge in U.S. sales this year, said it’s cutting production at four North American car plants in 2009, affecting 2,000 jobs.

The automaker will eliminate the third shift at its factories in Lordstown, Ohio; Oshawa, Ontario; and Orion Township, Michigan, in February, said Chris Lee, a GM spokesman. GM will also suspend production for a week at the Chevrolet Malibu plant in Fairfax, Kansas.”