A government grant of $9.4 billion hasn't helped General Motors, one of the nation's Big Three automakers, retain its workforce.
GM today announced it will cut 10,000 jobs in May and continue global layoffs through the year. Mid-level salaries will be decreased 3 to 7 percent and executives will take 10 percent pay cuts. With a severe drop in car sales and the need for restructuring, GM joins a list of companies letting go of employees to keep their businesses afloat.
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