LayoffBlog.com

February 18, 2009

GM to cut 47,000 jobs, close five more plants

General Motors Corp. plans to cut its work force by 47,000 this year and close five more U.S. plants under a viability plan it submitted to the U.S. Treasury on Tuesday as part of its effort to land between $9 billion and $12 billion more in federal loans.

The five plants the struggling automaker plans to close are in addition to the nine plants it previously said it planned to shutter.

GM also plans to reduce its dealerships from 6,246 in 2008 to 4,700 by 2012, and to 4,100 by 2014. Most of this reduction will take place in metro and suburban markets, GM said.

Source: Dayton Business Journal

1 Comment »

  1. Sounds like selling employees for bailout money. 9 to 12 bln for 47k workers or $190k to $255k per head. We have finally arrived in the dark ages.

    Comment by myphotoscout — February 18, 2009 @ 1:31 pm | Reply


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