GM to cut 10,00 salaried jobs

General Motors says it's cutting 10,000 salaried jobs, blaming the need to restructure the company amid the continued drop in new vehicle sales.

The Detroit-based automaker says it will reduce its total number of salaried workers to 63,000 from 73,000 this year. About 3,400 of GM's 29,500 salaried US jobs are expected to be eliminated.

The job cuts are part of the restructuring plan GM submitted to Congress late last year. Most of the cuts are expected to take place by May 1.

GM says the cuts will vary by global regions depending on staffing levels and market conditions.

GM also is cutting the pay of most of its salaried U.S. workers beginning May 1 and continuing at least through the end of the year.

Agencies