GM slashes workforce

Holden has survived a brutal series of job cuts from within General Motors unscathed. The American company announced in November it would slash 15 percent of its US workforce, dump several models, and close five North American plants as part of a A$10 billion cost-saving exercise. Lost models include the Chevrolet Cruze, Impala and Volt, Cadillac CT6. Despite 14,000 employees losing their jobs globally, Holden will retain its entire workforce.