GM to Slash Workforce

General Motors is planning to trim 10,000 jobs worldwide from its payroll this year in an effort to ensure the struggling automaker receives a federal bailout. The cuts mean 12 percent of its domestic workforce will be laid off. Employees left after May 1 will have to deal with pay cuts. After sales fell 49 percent in January, the company proposed buyouts to 62,000 union workers last week.