General Motors to Cut 10,000 Salaried Jobs

Additionally, General Motors said it would reduce the pay for those who remain by as much as 10%. The pay of U.S. executives will be cut by 10%; other salaried workers will see cuts of 3 - 7%.

The deadline of Feb. 17 is for a required plan necessary due to the terms of the $9.4 billion in low-interest government loans to General Motors.

Most of the cuts are expected to take place by May 1, and would follow GM's severance policies; there will be no buyout or early retirement packages offered as GM has done in the recent past.

In terms of buyouts and early retirement, the announcement comes a week after GM extended further buyout and early retirement offers to its hourly worker and three months after it eliminated 5,100 salaried jobs, also through buyouts.