BUSINESS BRIEFING / AUTOMOTIVE
Times Staff and Wire Reports
General Motors Corp., shrinking operations as it reorganizes in bankruptcy, will offer buyouts and retirement incentives to eliminate about 4,000 salaried jobs in the U.S. by Oct. 1.
Involuntary cuts will be needed if the Detroit automaker gets too few volunteers, a GM spokesman said.
The reductions will pare the salaried workforce by about 15%, deepening Chief Executive Fritz Henderson’s plans to slash a U.S. non-union payroll that had 29,650 jobs at the start of 2009. In April, GM projected cutting to 26,250 positions, and the new buyouts would trim the total to 23,500.
Henderson also plans to trim GM’s executive ranks by 35% this year, to about 850.
