, struggling with decades-low sales, will cut 10,000 salaried jobs worldwide.
The automaker said it will reduce salaried workers from 73,000 to 63,000 this year, about 3,400 of those job cuts coming in the U.S.
GM also said it will cut the pay of most of its salaried U.S. workers beginning May 1 and continuing at least through the end of the year at which time the pay cuts will be evaluated.The pay of U.S. executive employees will be cut by 10%, while other salaried workers will see cuts of 3 percent to 7 percent, GM said.
GM faces a Feb. 17 deadline to present to the government a plan showing it can become viable. The plan is required by the terms of $9.4 billion in low-interest government loans to the wounded automaker, which is seeking another $4 billion from the Treasury Department.
, saw sales drop 39% and
saw a 55% decline.
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