The VF Holden Commodore Evoke.
The VF Holden Commodore Evoke.

Holden to cut pay and shed more jobs

HOLDEN chief Mike Devereux has warned of pay cuts and more job losses, saying the car maker must radically and quickly reduce costs to survive in Australia.

The company says it is facing unprecedented challenges and is now asking its workers to help it make significant savings to ensure its Australian operations remain globally competitive.

Last week, a warning from executives about the company's future triggered a surge in employees wanting a voluntary separation package.

Mr Devereux has told the ABC's Inside Business program that "everything is on the table" to help bring about cost reductions.

He says this includes everything, ranging from salaries for both unionised and non-unionised staff, to the cost of materials and logistics and even to the number of light bulbs used.

Read more at ABC news online.