General Motors Corp. (GM) is looking to cut its U.S. salaried headcount by 15%, or around 5,000 workers, by Nov. 1 as part of a plan to cut $10 billion in annual expenses, according to sources briefed on the plan.
The auto maker previously said it was planning a 20% reduction in salaried- worker costs, including a combination of benefit reductions and job cuts.
GM hopes to convince workers to leave voluntarily by offering early retirement incentives rather than forcing layoffs. The company is expected to soon roll out offers to workers that will include both cash incentives and the chance for some to leave the company early with full pension benefits.
GM has reduced its white-collar work force 40% since 2000, down to about 32, 000 employees, as part of a massive downsizing underway for much of this decade.
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