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Auto News Articles - GM to cut thousands more jobs, sell assets
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GM to cut thousands more jobs, sell assets
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Source: MSNBC
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Date:7/16/2008
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Source Link: Click Here |
General Motors Corp. said it will lay off salaried workers, cut truck production, suspend its dividend and borrow $2 billion to $3 billion to weather a severe downturn in the U.S. market. Chief Operating Officer Fritz Henderson said GM wants to reduce its total salaried costs in the U.S. and Canada by more than 20 percent.
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