GM plans to slash up to 12,000 jobs in Europe
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General Motors (GM) plans to announce a massive restructuring Thursday that will eliminate as many as 12,000 jobs in Europe in a move to stem the five-year flow of red ink from its auto operations in the region.
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No. 1 automaker trying to stem losses from unit; most cuts due in Germany next year. RUESSELSHEIM, Germany  - General Motors will cut up to 12,000 jobs over the next two years to reduce annual costs
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About 2,000 workers stayed off the job Friday at a General Motors plant in Germany threatened by job cuts, while the company's European president attempted to reassure employees that the auto giant hadn't fixed how many jobs would go in the country &#151; a prime target in its cost-cutting plan.
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General Motors yesterday reached an agreement to slash nearly a third of its German workforce in a government-supported deal that could cost the US carmaker about $1 billion (Â¤750,824 million).
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Swedish carmaker Saab reduced its annual sales targets as the General Motors  unit tries to reach break-even, the head of GM Europe said in an advance abstract of a report in Automotive News Europe on Saturday.
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GERMANY - European factories of General Motors Inc. launched a massive strike protesting against the planned major job cuts. The automaker has recently released its plans to reduce the number of jobs by 12
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General Motors (GM) is following through with plans to axe 12,000 jobs in the loss-making European division as the car giant bids to trim operating costs by Â£350 million-a-year.
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General Motors Corp. GM.N will cut  about 900 jobs early next year at a pickup truck plant in  Pontiac, Michigan, in a move underscoring sagging demand for  some of its most profitable vehicles.
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RUESSELSHEIM, Germany  - General Motors Europe announced Thursday that it plans to cut 12,000 jobs on the continent by the end of 2006 in a plan aimed at saving 500 million euros (&#36;778 million Cdn) per year.
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Roughly 5,600 German employees of General Motors Corp. have agreed to accept buyouts offered as part of the world's biggest automaker's efforts to slash jobs in Europe, a labor official said Friday.
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General Motors Europe (GM.N: Quote, Profile, Research) will chop 12,000 jobs over two years -- around a fifth of its workforce -- to lop
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RUESSELSHEIM, Germany - General Motors Europe announced Thursday that it will cut 12,000 jobs on the continent by the end of 2006 in a plan aimed at saving $617 million per year.  ..
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General Motors may bundle its  European operations in a new company based in Brussels in a  move to cut costs and simplify management structures, a German  newspaper reported on Saturday.
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US car giant General Motors says it is to shed 12,000 jobs in Europe, with Germany bearing the brunt of losses.
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General Motors lowered its forecast for the entire year only hours after announcing plans to cut 12,000 jobs in Europe by 2006.
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The world's largest automaker lowered its annual earnings forecast Thursday, a few hours after announcing plans to cut about 20 percent of its European workforce by the end of 2006 in hopes of saving about $600 million a year.
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Germany will bear the brunt of the approximately 12,000 job losses, but the company will stop short of immediate factory closures, GM sources said.