General Motors to cut 10,000 salaried jobs this year

General Motors to cut 10,000 salaried jobs this year

US based auto giant General Motors has announced that they would cut around 10,000 salaried positions in the company this year.

GM said that they have to cut more jobs to meet the government restructuring deadline as they take on the worst downturns in the company’s history.

GM said that they would now reduce their white-collar workers by 14 percent to 63,000.

More bad news for the company employees as the remaining workers would get a pay cut.

GM Chief Executive Rick Wagoner said in a statement that these extreme steps are indicative of the kind of things they we need to do to get the viability plan in shape and respond to the tough market conditions.

The company is struggling in their domestic market where sales are falling down and customers are going for Japanese cars which are more fuel efficient.