Around 4,000 more salaried workers at General Motors Corp. will lose their jobs by the end of the year as the automaker continues to downsize. Michigan is in trouble. Things aren't getting any better. Can you tell me one company that is hiring? Anywhere?
GM notified its more than 27,000 U.S. white-collar workers by e-mail Tuesday that that it will offer standard severance packages, and employees near retirement age will have the opportunity to retire early. How nice of you GM... you might as well have Tweeted it to everyone. You're officially the worst run business of all time.
Some involuntary cuts will be necessary as well... GM is trying to shrink its U.S. salaried work force to around 23,500 by the end of the year. Only 23,500 salaried workers at General Motors! Now that's insane.
The automaker is in Chapter 11 bankruptcy protection and has received about $20 billion in loans from the U.S. government. The Treasury Department's auto task force is overseeing its plans to restructure and emerge from bankruptcy as a leaner, more competitive company. Good luck... and I guess GM is the worst run business... but our government is much worse with money! We're in debt, what should we do? Get into more debt. Real smart.