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GM slashing 30,000 jobs, closing plants Email Print

By NYBri
11/21/2005 12:12:27 PM EST

Updated: 11:34 a.m. ET Nov. 21, 2005

DETROIT - General Motors Corp. will eliminate 30,000 jobs and close nine North American assembly, stamping and powertrain plants by 2008 as part of an effort to get production in line with demand and position the world's biggest automaker to start making money again after absorbing nearly $4 billion in losses so far this year.

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The story.


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GM slashing 30,000 jobs, closing plants | 1 comment (1 topical, 0 editorial, 0 hidden)
This is not going to (none / 0)
save GM.

We'll see what develops, but I think Wall St. is already skeptical that GM has things under control, and this isn't going to instill confidence.

If enough corporate powerhouses begin to feel a little heat from reality, we might see more positive changes, like responding to consumers' financial and energy priorities.

Taxes shall be levied according to ability to pay. That is the only American principle. FDR

by btyarbro on 11/21/2005 01:05:43 PM EST

GM slashing 30,000 jobs, closing plants | 1 comment (1 topical, 0 editorial, 0 hidden)
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