Another Day, Another Cut at GM

GM plans to cut 15% of its salaried workers in the U.S. and Canada by Nov. 1 as part of the company’s plan to slice $15 billion in costs and help the automaker ride out a slump in U.S. sales, reports the AP and USA Today.

The 15% cut will equal about 5,100 jobs. GM announced their cost-cutting plan July 15. The automaker said it planned to cut thousands of salaried and hourly jobs, sell assets, suspend its dividend and eliminate health care for salaried retirees over age 65.

GM’s competitors have had to cut workers recently as well. Ford plans to cut 15% of its salaried costs by Friday, while Chrysler plans to cut 1,000 salaried jobs worldwide by Sept. 30.