GM to cut 10K jobs. 3,400 in US.

That's what CNN just reported. Nothing on the wire yet..........

Here ya go:

NEW YORK, Feb 10 (Reuters) - General Motors Corp (GM.N) said it would cut its global salaried workforce to about 63,000 from 73,000 during 2009 and impose pay cuts for the remainder of its salaried workforce.

The job cuts are the latest step the struggling automaker is taking to pare down its operations ahead of a presenting a restructuring plan to the U.S. government on Feb. 17.

"These difficult actions are necessitated by a severe drop in vehicle sales worldwide and by the need to restructure GM for long-term viability," GM said in a release on its Web site.

In the United States, approximately 3,400 of GM's 29,500 salaried employees will be cut.

The company announced a temporary pay cut for most of its U.S. salaried employees, beginning May 1, effective through the end of the year. Executive employees will have their base pay cut by 10 percent, with others seeing cuts of 3 percent to 7 percent. (Reporting by Patrick Fitzgibbons; Editing by Derek Caney)

The US auto market is 40% smaller than it was 2 years ago, so I imagine that about 40% of the jobs will have to go too.

The US auto market is 40% smaller than it was 2 years ago, so I imagine that about 40% of the jobs will have to go too.

I wonder what the total percent reduction has been in that same time? There have been several rounds of separations now...

I doubt it's 40%, but I could believe 20% when it's all said and done...maybe even more.