GM says to make involuntary salaried job cuts
DETROIT (Reuters) - General Motors Corp is planning to make involuntary cuts in its salaried and contract workforce in response to a deepening slump in U.S. auto sales.
GM, in a letter to executives, said the cuts would start in late 2008 and early 2009.
"Actions are being taken throughout GM's global operations to address our increasing need to conserve cash," the letter, which was seen by Reuters, said.
GM is also planning to suspended its tuition assistance and adoption assistance program for its salaried employees by the end of the year.
(Reporting by Poornima Gupta, editing by Gerald E. McCormick)
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