GM to Lay Off White Collar Workers

No one is safe in these troubled times for GM. Layoffs are now being considered for white collar executive jobs due to sluggish sales and a slowing economy. It was inevitable that the slowdown would spill over an effect even salaried workers. Now management will suffer for the years of poor decisions it has made. GM also will cut salaried worker benefits, including eliminating matching payments into 401(k) plans and further changes to be announced soon, according to the letter that was sent out company wide today.