GM job cuts -- maybe not as bad as could have been?

This looks terrible but is actually not as bad as might have been...


GM cutting 10,000 white-collar jobs

General Motors is cutting 10,000 people from its salaried workforce around the world, the company said Tuesday.

It will reduce its white-collar staff to 63,000 from the current 73,000 this year, but the company did not immediately disclose if jobs will be eliminated in Canada.

In the United States, about 3,400 salaried jobs out of 29,500 are expected to be cut. The company's U.S. white-collar workforce is also getting a pay cut. The pay reduction will start May 1 and extend through the end of 2009 at least.