08/07/2008 05:12 am ET Updated May 25, 2011

GM To Cut 5,000 Salaried Jobs

DETROIT -- General Motors Corp. 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 trim $10 billion in annual expenses, according to people 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.

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