General Motors Corp. said Tuesday it will cut 10,000 white-collar jobs world-wide this year, a move that could help prod the company's main union and bondholders into making concessions as required by GM's $13.4 billion federal loan package.
GM announced the cuts, amounting to 14% of its salaried workers globally, as it rushes to pull together a plan it must submit to the Treasury Department by Feb. 17. The plan is supposed to describe how GM will return to profitability and compete with Japanese rivals such as Toyota Motor Corp.
GM has been talking to the United Auto Workers union ...
http://online.wsj.com/article/SB123427251478068135.html?mod=yahoo_hs&ru=yahoo
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