GM Set to Shed More Jobs in Buyouts

Now that the parties and fun of the Detroit Auto Show are over, GM has decided to get back to business. If you haven't heard by now, GM is planning on offering buyouts to an additional 46,000 hourly workers under the terms of the newly negotiated UAW contract. When successfully implemented, this move to push out high wage members in favor of a lower wage, younger workforce will save a planned $5 billion annually by 2010. Apparently that means they've completed their turn around plan as well, so we're assuming the sales figures to be released Wednesday confirming Toyota has taken GM's global sales leader status away won't be that big a deal. [via Financial Times]