Report: GM seeking deep white-collar cuts

[RamboLiberal]

http://www.tallahassee.com/mld/tallahassee/business/11188000.htm

General Motors Corp., which rocked investors last week by slashing its 2005 income outlook, plans deep cuts to its nonunion employee ranks, according to a newspaper report.

The automaker could cut as much as 28 percent, in certain areas, from its 38,000 U.S. white collar workers, The Wall Street Journal reported Monday, citing "industry officials and analysts." The cuts are seen as the beginning of GM's effort to restructure structural problems in its core auto business after several years of avoiding large job cuts, the newspaper reported.

GM spokeswoman Toni Simonetti told The Associated Press Sunday that the company planned to continue reducing its work force through early-retirement offers and "natural attrition."

The Journal said GM began offering buyouts to white-collar workers earlier this month, with thousands of workers likely to accept the packages this week.

Deja-vu from the 70's and 80's.