GM Europe aims to cut labour costs at least 10 pct

Newswire

FRANKFURT, Nov 27 (Reuters) - General Motors Corp aims to cut staff costs at its European operations by at least 10 percent to battle the impact of a sharp slump in demand for cars, GM Europe Chief Executive Carl-Peter Forster said. GM Europe would have its employees work fewer hours every week and try to cut wage costs, in addition to other unspecified measures to reduce personnel costs, Forster said in a letter he sent to employees that was obtained by Reuters on Thursday. "So far we ...

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