General Motors announced Tuesday the company will slash 10,000 jobs - more than 13% of their global workforce - in 2009.
GM says approximately 3,400 of GM's 29,500 salaried employees in the United States will be impacted. That will cut the company's total workforce from the current level of 73,000 to around 63,000 according to a GM news release.
The company says the job losses are needed with the severe drop in vehicle sales. The majority of the reductions are expected to take place by May 1.
American GM workers - who keep their jobs - will have to deal with a temporary cut in pay. Beginning on May 1, U.S. executive employees will have their base pay reduced by 10 percent and many other salaried employees will see reductions of 3 to 7 percent.
The pay cut will go through the rest of 2009 before it's reviewed by the company.
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