General Motors will cut salaried jobs, executive salaries, salaried retiree health care and 150,000 additional units of truck production, the company announced this morning in a broadcast to employees and then in a news conference, according to The Detroit Free Press.

Chairman and CEO Rick Wagoner said this morning that the company is taking measures to conserve and raise $15 billion through 2009 in an effort to sustain the company as its sales plummet in the face of a weak U.S. economy and high gasoline prices.

In addition to cuts in North America, Wagoner said GM is also considering raising cash in global markets and asset sales.