GM to cut U.S. workforce again in 2005
Oh goody: more job losses from America's favorite coloring bookUSAToday.com (01.10)
General Motors (GM) plans to cut its U.S. workforce about 7% for a fourth consecutive year in 2005, chairman and chief executive Rick Wagoner says.
That means about 8,000 hourly and salaried positions at the world's largest automaker will be eliminated through attrition and retirement over the next 12 months.
Struggling to trim costs in the face of rising health care expenses and other factors, GM each year since 2002 has cut 2% to 3% of its salaried workforce, 5% to 6% of its hourly workforce and about 10% of its contractors.
Hmmm, 'other factors' eh? Wonder what those could possibly be...