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In response to the continuing drop in truck sales, General Motors is expecting drastic cutbacks in its truck production, along with the layoff of thousands of salaried employees. Compensation and benefits reductions are also expected as the automotive giant refocuses its efforts on small car production. The announcement comes at a time when GM's shares on Wall Street are hitting 50-year lows and the company has already vowed to close four truck production facilities in an effort to raise cash to put into producing smaller cars.