Date:16/07/2008 URL: http://www.thehindu.com/2008/07/16/stories/2008071656171900.htm

Business

GM proposes to shore up liquidity

NEW YORK: General Motors Corp on Tuesday said it would cut salaried employment costs by 20 per cent, sell up to $4 billion in assets and borrow at least $2 billion in a bid to bolster its liquidity by $15 billion through 2009.