Saturday, December 6, 2008

General Motors To Cut 2,000 More Jobs

US automaker General Motors (GM) announced today that another 2,000 workers will lose their jobs by early next year as low profits, slow demand, and a lack of funding has continued to shackle the car manufacturer.

The cuts come in addition to the 2,000 job cuts announced in early November at the plants in Michigan, Ohio and Oshawa, Ontario.

The struggling automaker said on Tuesday it plans to cut up to 31,500 jobs by 2010 - or a third of its workforce - as part of a restructuring plan aimed at winning $US18 billion ($A28 billion) in government-backed loans.

Prakash's Nice Graphic Signature

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