GM Hacks 14% of Salaried Jobs

By Kevin Spak,  Newser Staff
Posted Feb 10, 2009 8:27 AM CST
A Chevrolet Sports Wagon is on display at a General Motors dealership in Sunnyvale, Calif., Tuesday, Feb. 3, 2009.   (AP Photo/Paul Sakuma)
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(Newser) – GM will cut 10,000 jobs this year, including 3,400 in the US, the Wall Street Journal reports. The cuts represent 14% of GM’s salaried workforce overall, and 12% in the US. Most of those lucky enough to survive the axe will get a 3%-7% pay cut, while execs will see salaries cut 10%. The cuts will be part of the restructuring plan the company must submit to Congress next week.