( dpa ) - US carmaking giant General Motors suffered a record loss of 38.7 billion dollars in 2007 and said it would be offering buyouts to around 74,000 workers, the company announced in Detroit Tuesday.
The fourth quarter loss was put at 722 million dollars. Most of the 2007 loss was put down to special taxes. In the previous year the company reported a loss of almost 2 billion dollars.
Turnover in 2007 was down 12 per cent to 181.1 billion dollars.
GM, the world's largest vehicle-maker, says it expects the 74,000 workers who will be paid off to have left the company by mid-year.
Along with fellow US carmakers Ford and Chrysler, GM is struggling with a declining share in the home market, losing out in particular to Toyota.
