DEBORAH AMOS, Host: He's reducing the white collar workforce with buyouts and early retirement. He'll suspend dividends to shareholders. He'll also freeze salaries and eliminate health care coverage for salaried retiries over 65. To further shore up his finances, GM will sell up to $4 billion of its assets.
General Motors is still the leading U.S. automaker, but as plunging sales eat into company finances, GM chief executive Rick Wagoner has announced a sweeping plan to shrink the company and save $10 billion by the end of next year.