By John Revill, Automotive News Europ
Detroit, Michigan -- General Motors will cut 10 000 jobs worldwide, including 3000 to 4000 in Europe, to reduce costs during the economic crisis.
The troubled automaker said it will cut 10 000 of its 73 000 white-collar jobs across the world as it battles pretax losses that reached a $2800 million in the third quarter of 2008. The company has yet to report full year figures.
In the US, about 3400 of GM's 29 500 salaried employees will be affected. The rest of the job cuts will affect Europe and GM's other operations around the world.
GM also will cut the salaries of many of its employees. The cut in base pay for executives will be 10 percent. "Many other" salaried workers will have their pay reduced by 3 percent to 7 percent, GM said.
Company insiders said 3000 to 4000 employees in Europe are likely to be affected.
See more of this story at www.autonewseurope.com