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GM to cut 14% of global salaried workforce this year
Tue, 10 Feb 2009General Motors, facing a Feb. 17 deadline to show the government it's a viable company, said on Tuesday it will cut 14 percent of its salaried jobs globally by the end of the year and slash the salaries of many who remain. Salaried employment will drop to 63,000, from 73,000, the company said in a statement.
Mercedes-Benz C63 AMG coupe revealed
Mon, 21 Mar 2011Mercedes-Benz has followed up the debut of the C-class coupe at the Geneva motor show with the unveiling of this new range-topping version, the C63 AMG coupe. Set to land in North American showrooms in September following a planned debut at next month's New York auto show, the new BMW M3-challenger receives the same updated mechanical package as the recently facelifted C63 AMG sedan. It will be sold from the outset as a 2012-model-year car.
Porsche finally becomes a VW company
Thu, 05 Jul 2012Volkswagen has announced it is to finalise its takeover of Porsche by buying the remaining 50.1 per cent of Porsche stock for €4.46 billion. The takeover of Porsche by VW has been a long and rocky road, but then family fallouts are always messy. It all started with Porsche attempting to consume VW, but some clever manoeuvring by Ferdinand Piech thwarted the efforts of his cousin, Wolfgang Porsche, to swallow up his business and the financial crisis saw Porsche rack up €10 billion in debt in the process.