GM to Cut 5,000 Jobs
DETROIT (Reuters) -- About 5,000 General Motors Co salaried workers took buyouts to leave the company, putting the company well on the way to hitting a $2 billion cost-cutting target, the automaker’s chief financial officer said Tuesday.
GM shares were trading down nearly 2% at midday, even though CFO Paul Jacobson said demand for GM’s trucks and SUVs remains strong in the United States.