A report in the Nihon Keizai newspaper that did not cite a source says Subaru is planning to cut 700 jobs, or 5 percent of its workforce, starting this month. The cuts would come in the form of a voluntary retirement program and save the company around $43.5 million per year. The Detroit News points out that though GM has already sold an 8.7 percent stake in Subaru's parent company, Fuji Heavy Industries, to Toyota, the General still owns an 11.4 percent stake that it plans to divest itself of in the near future.

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