GM to cut 10,000 salaried positions

General Motors has notified its employees that it will reduce salaried employment globally from a current level of 73,000 to approximately 63,000 - a reduction of 14% - over the course of the year. The company will also slash compensation and benefits for its remaining salaried employees as it attempts to turnaround its losses in the lead-up to the February 17 U.S. Treasury viability presentation. In the United States, approximately 3,400 of GM's 29,500 salaried employees will be impacted. These reductions will be made using GM separation programs and policies, which provide for severance payments, benefit contributions and outplacement assistance.