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.

GM to lay off additional 1,900 workers

General Motors said it plans to lay off an additional 1,900 factory workers at parts stamping, engine and transmission factories in North America as it cuts expenses to deal with a worsening cash crisis.
The nation's largest automaker said in a filing with the U.S. Securities and Exchange Commission on Monday that the layoffs are a result of declining sales.
GM announced a $2.5 billion third-quarter loss on Friday and said it may run out of cash before the end of 2008.
The 1,900 additional layoffs will come in the first quarter of next year at parts stamping, engine and transmission factories in North America as GM cuts expenses to deal with a worsening cash crisis.