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GM will trim 1,600 jobs
GM will trim 1,600 jobs in next few days
Posted Monday, Apr 20, 2009, 11:42 am in Industry
A top General Motors Corp. executive says 1,600 workers will lose their jobs during the next few days as the automaker tries to cut costs and restructure to stay in business, an Associated Press story said.
GM North America President Troy Clarke says in an e-mail to workers obtained by the Associated Press that the layoffs are needed to ensure GM’s long-term viability. Last month GM began cutting 3,400 U.S. salaried jobs as part of the 47,000 job cuts that it will make worldwide by year’s end.
GM is living on $13.4 billion in government loans and faces a June 1 deadline to cut costs and gain concessions from stakeholders in order to get more government help. It may be forced to file for bankruptcy protection. (Associated Press/Detroit News)
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