GM roundup: New radios will work with music players

As part of the $15 billion cost-cutting and cash-raising plan, the automaker said it would cut thousands of salaried and hourly jobs, sell assets, suspend its dividend and eliminate health care for salaried retirees over age 65. GM said it would cut white-collar costs in the U.S. and Canada by more than 20%.

GM had 44,000 U.S. salaried workers in 2000; that dropped to 32,000 by the end of last year. The company's U.S. hourly workforce dropped by more than half to 57,000 last year, and an additional 19,000 hourly workers took buyouts this summer.

GM also said Friday it has started to offer early retirement packages to selected white-collar workers as part of a plan to cut 15% of its salaried jobs in the U.S. and Canada.

GM spokesman Dan Flores said the offers will be made to workers in areas where the company is seeking to trim its work force. GM would not release details of the packages, how many workers will get the offers, or what areas the company will target for reductions.

Workers who accept the offers will retire by Nov. 1, Flores said.

GM in July announced its intent to cut its salaried workforce by around 5,100 as part of a larger plan to slash billions of dollars in costs and help the automaker ride out a slump in U.S. sales.

As part of the $15 billion cost-cutting and cash-raising plan, the automaker said it would cut thousands of salaried and hourly jobs, sell assets, suspend its dividend and eliminate health care for salaried retirees over age 65. GM said it would cut white-collar costs in the U.S. and Canada by more than 20%.

GM had 44,000 U.S. salaried workers in 2000; that dropped to 32,000 by the end of last year. The company's U.S. hourly workforce dropped by more than half to 57,000 last year, and an additional 19,000 hourly workers took buyouts this summer.

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