[OPE-L] GM: 35,000 Hourly Workers Taking Buyouts

From: Alejandro Valle Baeza (valle@SERVIDOR.UNAM.MX)
Date: Mon Jun 26 2006 - 21:06:54 EDT

GM: 35,000 Hourly Workers Taking Buyouts

DETROIT (AP) - About 35,000 hourly workers at General Motors Corp. have
taken buyout or early retirement offers, surpassing the company's
expectations as it tries to cut costs by paring its hourly work force,
GM Chairman and CEO Rick Wagoner said Monday.

The job cuts will help GM's long-term turnaround plan as it cuts
production capacity to match its current sales and market share. GM
previously announced plans to cut its 113,000-person U.S. hourly work
force by 30,000, closing 12 plants by 2008. GM said it now expects to
reach its job reduction target by Jan. 1, 2007, about two years ahead of

``Over the past several months, we have accomplished a great deal in our
strategy to reshape GM into a company that is more nimble, more global
and built for long-term success,'' Wagoner said in a statement.

06/26/06 17:23 © Copyright The Associated Press. All rights reserved.
The information contained In this news report may not be published,
broadcast or otherwise distributed without the prior written authority
of The Associated Press.


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