Bill McElroy
Well-Known Member
A BIG thanks to the guys I sent the discount cert's too........it may be the last time for me!! YIKES!! Man this is getting BAD!!! (I work in a fairly safe area as far as technical skills req'd to do my job...and critical needs for the company...but geeezzzz..
I know I'm going to see some friends get their walking papers before the end of the year!)
GM to Trim 5,000 White-Collar Jobs
Detroit News
By David Shepardson
July 31, 2008
General Motors Corp. plans to cut its U.S. salaried work force by 15 percent, eliminating about 5,000 jobs by year's end as part of a plan to cut costs by $10 billion by the end of 2009, company officials said Wednesday.
GM plans to deliver a laundry list of bad news on Friday, when it reports second-quarter financial results and July sales figures.
The company already has announced significant cuts toward its restructuring. On July 15, GM said it would cut its white-collar costs by more than 20 percent including eliminating health care coverage for salaried retirees eligible for Medicare and raises for salaried employees through 2009. The moves will save the company $1.5 billion.
"It's been three years of cutting and they aren't done yet," said Gerald Meyers, a University of Michigan business professor and former chairman of American Motors, adding that there's been "a dismal deterioration" of the company's earnings.
In total, Detroit's Big Three automakers are trimming nearly 10,000 additional white-collar jobs this year on top of the more than 25,000 salaried jobs eliminated since 2000 in North America. The companies are taking steps to shrink costs and production as the industry faces its worst sales results in nearly two decades.
GM is cutting production capacity by 300,000 vehicles and said this week it was cutting shifts at two truck plants, laying off 1,760 hourly workers. It also announced it is closing four truck factories, including plants in Wisconsin and Ohio.
GM plans to use its overfunded pension to offer early retirement packages in an effort to cut thousands of jobs. In its public relations department, GM has 40 employees who are eligible for the packages and plans to eliminate 17 positions, people familiar with the plans said.
The company has about 32,000 U.S. salaried workers. It also plans to cut 15 percent of its Canadian salaried work force and plans to complete those job cuts also by the end of the year.
The salaried work force cuts will vary by department. Some departments -- like the company's work on advanced batteries -- won't see any cuts, while other departments will see larger than 15 percent cuts. Offers to voluntarily leave the company will be made in the next month or so, with employees likely deciding by October whether to accept the packages.
GM "frankly doesn't need as many people," said David Cole, chairman of the Center for Automotive Research. But, he said, "there are specific projects that are protected vigorously."
Ford plans to complete by Friday its white-collar job cuts as part of a plan to cut its salaried work force costs by 15 percent. The company said this week it had cut 200 salaried jobs in the second quarter, part of the nearly 11,000 white-collar jobs cut in North America since 2005. The Dearborn automaker has about 23,500 salaried workers in North America.
Chrysler LLC said it would eliminate another 1,000 jobs by Sept. 30, after cutting 3,000 white-collar jobs last year. Chrysler is also cutting an unspecified number of its 2,700 contract workers, in addition to the 1,100 contract workers it cut in 2007.
Nissan North America said Wednesday it would offer buyouts to 6,600 workers at its two Tennessee plants and eliminate a night shift of truck production, hoping to cut 1,200 jobs. The company cut 775 jobs last year through buyouts.
The cuts come as automakers face a struggling economy and tight cre
I know I'm going to see some friends get their walking papers before the end of the year!)
GM to Trim 5,000 White-Collar Jobs
Detroit News
By David Shepardson
July 31, 2008
General Motors Corp. plans to cut its U.S. salaried work force by 15 percent, eliminating about 5,000 jobs by year's end as part of a plan to cut costs by $10 billion by the end of 2009, company officials said Wednesday.
GM plans to deliver a laundry list of bad news on Friday, when it reports second-quarter financial results and July sales figures.
The company already has announced significant cuts toward its restructuring. On July 15, GM said it would cut its white-collar costs by more than 20 percent including eliminating health care coverage for salaried retirees eligible for Medicare and raises for salaried employees through 2009. The moves will save the company $1.5 billion.
"It's been three years of cutting and they aren't done yet," said Gerald Meyers, a University of Michigan business professor and former chairman of American Motors, adding that there's been "a dismal deterioration" of the company's earnings.
In total, Detroit's Big Three automakers are trimming nearly 10,000 additional white-collar jobs this year on top of the more than 25,000 salaried jobs eliminated since 2000 in North America. The companies are taking steps to shrink costs and production as the industry faces its worst sales results in nearly two decades.
GM is cutting production capacity by 300,000 vehicles and said this week it was cutting shifts at two truck plants, laying off 1,760 hourly workers. It also announced it is closing four truck factories, including plants in Wisconsin and Ohio.
GM plans to use its overfunded pension to offer early retirement packages in an effort to cut thousands of jobs. In its public relations department, GM has 40 employees who are eligible for the packages and plans to eliminate 17 positions, people familiar with the plans said.
The company has about 32,000 U.S. salaried workers. It also plans to cut 15 percent of its Canadian salaried work force and plans to complete those job cuts also by the end of the year.
The salaried work force cuts will vary by department. Some departments -- like the company's work on advanced batteries -- won't see any cuts, while other departments will see larger than 15 percent cuts. Offers to voluntarily leave the company will be made in the next month or so, with employees likely deciding by October whether to accept the packages.
GM "frankly doesn't need as many people," said David Cole, chairman of the Center for Automotive Research. But, he said, "there are specific projects that are protected vigorously."
Ford plans to complete by Friday its white-collar job cuts as part of a plan to cut its salaried work force costs by 15 percent. The company said this week it had cut 200 salaried jobs in the second quarter, part of the nearly 11,000 white-collar jobs cut in North America since 2005. The Dearborn automaker has about 23,500 salaried workers in North America.
Chrysler LLC said it would eliminate another 1,000 jobs by Sept. 30, after cutting 3,000 white-collar jobs last year. Chrysler is also cutting an unspecified number of its 2,700 contract workers, in addition to the 1,100 contract workers it cut in 2007.
Nissan North America said Wednesday it would offer buyouts to 6,600 workers at its two Tennessee plants and eliminate a night shift of truck production, hoping to cut 1,200 jobs. The company cut 775 jobs last year through buyouts.
The cuts come as automakers face a struggling economy and tight cre
