GM <GM>  CUTTING SALARIED MERIT RAISES
General Motors Corp told employees it
was reducing the funds available for merit-raises for 109,000
salaried workers.
    GM, which has been taking wide-ranging steps to cut costs,
said in a letter it cut the amount available for raises to 3.5
pct of the payroll from 5.5 pct in 1986.
    The letter also said raises will be given in one annual
lump-sum payment from April rather than being folded into
salaries and thus increasing the base for benefit payments.
 Reuter
