19,000 GM workers take buyout
Posted in Main Blog (All Posts) on May 30th, 2008 4:31 am by HL
19,000 GM workers take buyout
General Motors Corp said on Thursday about 19,000 U.S. factory workers — just over a quarter of its American blue-collar work force — had taken buyout offers to leave the automaker. GM is under increasing pressure to cut costs in the face of weak U.S. sales and high gas prices, and analysts said the struggling automaker would have to quickly move beyond sweeping hourly job cuts by slashing production, eliminating white-collar jobs and trimming other costs.