Details of GM’s massive restructuring plan will be announced on Monday as it fights the battle against bankruptcy protection.

The struggling automaker must make the announcement in advance of a planned offer to its bondholders to swap debt for company stock.

GM owes $28 billion to large and small bondholders, and under Securities and Exchange Commission rules, it must disclose its operational plans before making an exchange offer.

More job cuts in addition to the 3,400 last week are underway.