GM to Axe 30000 Jobs in US

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GM angers union with plan to cut 30,000 jobs
By James Doran, Wall Street Correspondent

GENERAL MOTORS’ relationship with its biggest and most powerful trade union was at breaking point last night after the world’s biggest carmaker announced plans to cut 30,000 jobs and close up to 12 factories in North America.

Richard Wagoner, the GM chief executive, revealed details of the company’s long-awaited turnaround plan yesterday morning in Detroit in an effort to reverse a falling share price and scotch rumours that it might soon file for bankruptcy.

Source: http://business.timesonline.co.uk/article/0,,9069-1882572,00.html

gonzo

things like this happen after minimum wage rate is raised....

babumuchhala

If GM dosent do that it will not be able to curtail it $ 4.7 Billion losses in North America and faces the risk of going bankrupt. If that happens more all emplyees future would have been in danger.

Plus i feel its bcos of the Outrageous Healt Benifits given to the employees.

Lets hope GM gets back on strong footing and hires twice as many ppl in the Future Very Happy

sunrise

Wow, it is sad to see such an iconic company suffer like this. It is almost like an end of an era.

Wrez

sux

but hey i aint from US Smile

and i dont work for GM Razz

why would i care Razz

not that i think its good that they are gettin fired but what can i do about it ?

jump around in sweden and scream OH SHIT !!! 30k gm employees are gettin fired...

gonzo

those evil rich companies... they should keep all their employess, not raise any prices and JUST absorb its losses. Take less profit!! Greedy bastards..

it doesn't matter that many middle class people have invested in GM and the above gross mismanagement will lead to a loss of their respective investment!!

screw them all!!!

LumberJack