After 2008, GM tried to cut its cost on payments by reducing their hourly wages to $56, but still GM has the highest labor costs in the auto industry. Furthermore, GM also froze its pension plan and health care benefits to its salaried employees for longtime white-collar workers to reduce their costs. GM changed its plan into a 401(k), a retirement investment plan that allows an employee to put a percentage of earned wages into a tax-deferred investment account selected by the employer, and this actually reduce
![majortests.com](http://patterns.studymode.com/1.11/dist/images/logos/major-tests/logo-major-tests-large.png)