Author: employmentcros Added: Thu, 17 Jul 2008 08:35:26 -0800 Duration: 202Hello Welcome to Employment Crossing News Im Evangeline Fabia. General Motors revealed yesterday of their plans to lay off salaried workers to weather a severe downturn in the US market. GM said the moves would raise $15bn to help cover losses, including $10bn from internal cost-cutting. GM says that several thousand jobs will be phased out through early retirement and buyout offers and that the company could resort to involuntary layoffs but did not want to. GMs North America division has 40,000 salaried employees. The hurried restructuring is GM's second in just six weeks due to high gas prices, weakening auto sales and from customers steering away from SUVs and gas guzzling trucks. For more information visit us at Employmentcrossing.com. Im Evangeline Fabia thank you for watching Employment Crossing News. http://www.employmentcrossing.com ###
