Cars
In the latest round of job cuts, General Motors said today that it will reduce salaried employment globally from a current level of 73,000 to approximately 63,000, with 3,400 of those job cuts coming from the United States where the company employs around 29,500 salaried workers. Most of these reductions are expected to take place to take place by May 1, 2009. Furthermore, GM also announced a temporary pay reduction for a majority of its U.S. salaried employees.
- Gm To Shut Down Antwerp Plant In Belgium, Announces More Cuts For Opel / Vauxhall
General Motors has turned its focus on its European division as a little after the announcement on its decision to wind down its Saab unit, the U.S. carmaker revealed that it intends to close Opel's manufacturing plant in Antwerp, Belgium, which...
- Gm Officially Announces Pontiac's Death, Saab, Hummer And Saturn To Be Gone By 2009
This is the end of the road for Pontiac as General Motors confirmed earlier media reports by officially announcing on Monday the death of the 83-year-old marque that will be phased out by the end of 2010. As part of its revised "Viability Plan" that accelerates...
- Ford Reports $2.7 Billion Operating Loss In Q3, Burns $7.7 Billion In Cash, Announces Job Cuts
It can't get any worse for Ford Motor Company - or can it? The American automaker today announced a third quarter net loss of $129 million which is actually smaller than the same period a year ago when FoMoCo lost $390 million. However, the company...
- Chrysler Planning An Extra 1,000 Job Cuts After Sales Decline
In a memo sent out to employees, Chrysler LLC announced that it plans to eliminate an additional 1,000 salaried jobs from its salaried workforce due to the continued deterioration in the U.S. market where the company saw its sales drop 22% during the...
- Ford Cutting Jobs Outside North America
Continuing its cost cutting measures, Ford Motor Company announced today that it will cut some salaried jobs in its international operations. According to a report from Bloomberg, Ford’s spokeswoman Marcey Evans said that the eliminations outside...
Cars
GM to Slash 10,000 Jobs Globally and Reduce Pay by up to 10%
In the latest round of job cuts, General Motors said today that it will reduce salaried employment globally from a current level of 73,000 to approximately 63,000, with 3,400 of those job cuts coming from the United States where the company employs around 29,500 salaried workers. Most of these reductions are expected to take place to take place by May 1, 2009. Furthermore, GM also announced a temporary pay reduction for a majority of its U.S. salaried employees.Beginning from May 1, in the U.S., executive employees will have their base pay reduced by 10%, and many other salaried employees will see reductions of 3 to 7%.
General Motors said that the job cuts are part of the company's restructuring plan that was submitted to Congress on December 2, 2008. The announcement this week begins implementation of this aspect of the plan. "These difficult actions are necessitated by a severe drop in vehicle sales worldwide and by the need to restructure GM for long-term," said the automaker in a statement.
- Gm To Shut Down Antwerp Plant In Belgium, Announces More Cuts For Opel / Vauxhall
General Motors has turned its focus on its European division as a little after the announcement on its decision to wind down its Saab unit, the U.S. carmaker revealed that it intends to close Opel's manufacturing plant in Antwerp, Belgium, which...
- Gm Officially Announces Pontiac's Death, Saab, Hummer And Saturn To Be Gone By 2009
This is the end of the road for Pontiac as General Motors confirmed earlier media reports by officially announcing on Monday the death of the 83-year-old marque that will be phased out by the end of 2010. As part of its revised "Viability Plan" that accelerates...
- Ford Reports $2.7 Billion Operating Loss In Q3, Burns $7.7 Billion In Cash, Announces Job Cuts
It can't get any worse for Ford Motor Company - or can it? The American automaker today announced a third quarter net loss of $129 million which is actually smaller than the same period a year ago when FoMoCo lost $390 million. However, the company...
- Chrysler Planning An Extra 1,000 Job Cuts After Sales Decline
In a memo sent out to employees, Chrysler LLC announced that it plans to eliminate an additional 1,000 salaried jobs from its salaried workforce due to the continued deterioration in the U.S. market where the company saw its sales drop 22% during the...
- Ford Cutting Jobs Outside North America
Continuing its cost cutting measures, Ford Motor Company announced today that it will cut some salaried jobs in its international operations. According to a report from Bloomberg, Ford’s spokeswoman Marcey Evans said that the eliminations outside...